Mitek Systems, Inc. (MITK) Position Raised by Algert Global LLC
Algert Global LLC increased its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 16.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,705 shares of the software maker’s stock after purchasing an additional 26,316 shares during the quarter. Algert Global LLC owned approximately 0.56% of Mitek Systems worth $1,783,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Renaissance Group LLC increased its position in shares of Mitek Systems by 1.2% during the 2nd quarter. Renaissance Group LLC now owns 54,110 shares of the software maker’s stock worth $455,000 after purchasing an additional 620 shares in the last quarter. Unterberg Capital LLC increased its position in Mitek Systems by 195.1% in the 2nd quarter. Unterberg Capital LLC now owns 370,000 shares of the software maker’s stock valued at $3,108,000 after acquiring an additional 244,600 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Mitek Systems by 43.9% in the 1st quarter. TIAA CREF Investment Management LLC now owns 122,135 shares of the software maker’s stock valued at $812,000 after acquiring an additional 37,271 shares in the last quarter. Thrivent Financial For Lutherans acquired a new stake in Mitek Systems in the 2nd quarter valued at about $271,000. Finally, Vanguard Group Inc. increased its position in Mitek Systems by 8.2% in the 1st quarter. Vanguard Group Inc. now owns 1,309,044 shares of the software maker’s stock valued at $8,705,000 after acquiring an additional 99,489 shares in the last quarter. Institutional investors and hedge funds own 43.56% of the company’s stock.
In other news, Director Bruce Edward Hansen sold 50,000 shares of Mitek Systems stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $9.16, for a total transaction of $458,000.00. Following the completion of the sale, the director now owns 61,600 shares in the company, valued at approximately $564,256. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James B. Debello sold 10,313 shares of Mitek Systems stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $8.60, for a total transaction of $88,691.80. Following the sale, the chief executive officer now owns 909,903 shares of the company’s stock, valued at approximately $7,825,165.80. The disclosure for this sale can be found here. Insiders sold a total of 205,942 shares of company stock valued at $1,812,527 in the last 90 days. Corporate insiders own 8.52% of the company’s stock.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.35 million. Mitek Systems had a net margin of 31.05% and a return on equity of 11.49%. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS. equities research analysts forecast that Mitek Systems, Inc. will post 0.13 earnings per share for the current year.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Friday. BidaskClub cut shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Mitek Systems currently has a consensus rating of “Hold” and an average target price of $10.80.
About Mitek Systems
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
Want to see what other hedge funds are holding MITK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitek Systems, Inc. (NASDAQ:MITK).
Receive News & Stock Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related stocks with our FREE daily email newsletter.