Mitek Systems Inc. (MITK) Shares Bought by Algert Global LLC
Algert Global LLC increased its position in Mitek Systems Inc. (NASDAQ:MITK) by 92.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 187,171 shares of the company’s stock after buying an additional 90,044 shares during the period. Algert Global LLC’s holdings in Mitek Systems were worth $1,552,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Mitek Systems by 12.0% in the second quarter. Vanguard Group Inc. now owns 1,132,112 shares of the company’s stock worth $8,049,000 after buying an additional 121,599 shares during the period. BlackRock Fund Advisors boosted its position in Mitek Systems by 1,148.5% in the second quarter. BlackRock Fund Advisors now owns 764,262 shares of the company’s stock worth $5,434,000 after buying an additional 703,050 shares during the period. G2 Investment Partners Management LLC bought a new position in Mitek Systems during the second quarter worth $5,161,000. Blair William & Co. IL boosted its position in Mitek Systems by 254.6% in the second quarter. Blair William & Co. IL now owns 687,370 shares of the company’s stock worth $728,000 after buying an additional 493,525 shares during the period. Finally, EAM Investors LLC boosted its position in Mitek Systems by 37.7% in the second quarter. EAM Investors LLC now owns 651,277 shares of the company’s stock worth $4,631,000 after buying an additional 178,471 shares during the period. 45.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Mitek Systems Inc. (NASDAQ:MITK) opened at 7.49 on Thursday. The firm has a market capitalization of $245.13 million, a PE ratio of 126.95 and a beta of 2.23. Mitek Systems Inc. has a 52 week low of $3.10 and a 52 week high of $9.49. The company has a 50-day moving average of $8.03 and a 200-day moving average of $7.63.
Mitek Systems (NASDAQ:MITK) last posted its earnings results on Thursday, July 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $9.10 million for the quarter, compared to analysts’ expectations of $8.31 million. Mitek Systems had a return on equity of 14.96% and a net margin of 5.94%. The firm’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same period last year, the business posted $0.07 earnings per share. On average, equities analysts forecast that Mitek Systems Inc. will post $0.25 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on MITK shares. TheStreet cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Needham & Company LLC raised shares of Mitek Systems from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Monday, July 11th. Finally, Zacks Investment Research cut shares of Mitek Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $8.63.
Mitek Systems Company Profile
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 camera-equipped smartphones and tablets instead of using the device keyboard.
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