Y Intercept Hong Kong Ltd Buys New Stake in Mitek Systems, Inc. (NASDAQ:MITK)

Y Intercept Hong Kong Ltd purchased a new position in Mitek Systems, Inc. (NASDAQ:MITK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,257 shares of the software maker’s stock, valued at approximately $114,000.

A number of other hedge funds also recently bought and sold shares of MITK. Creative Planning bought a new stake in shares of Mitek Systems in the 3rd quarter worth about $152,000. Olympiad Research LP bought a new stake in Mitek Systems during the third quarter worth approximately $247,000. Kovack Advisors Inc. purchased a new stake in Mitek Systems during the third quarter valued at approximately $372,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Mitek Systems in the 3rd quarter valued at approximately $506,000. Finally, Avior Wealth Management LLC purchased a new position in shares of Mitek Systems in the 3rd quarter worth approximately $60,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MITK shares. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. Maxim Group raised their target price on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, StockNews.com cut shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.88.

Mitek Systems Stock Performance

MITK stock opened at $9.20 on Thursday. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The firm has a market cap of $416.24 million, a price-to-earnings ratio of 102.22 and a beta of 1.08. The business’s fifty day simple moving average is $10.25 and its two-hundred day simple moving average is $9.48. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73.

Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. Analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at Mitek Systems

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the acquisition, the chief executive officer now directly owns 55,000 shares in the company, valued at approximately $506,550. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Gray sold 6,222 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the completion of the sale, the insider now owns 164,342 shares of the company’s stock, valued at approximately $1,490,581.94. This represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

About Mitek Systems

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.