Teton Advisors LLC Makes New $918,000 Investment in Mitek Systems, Inc. $MITK

Teton Advisors LLC acquired a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 94,000 shares of the software maker’s stock, valued at approximately $918,000. Teton Advisors LLC owned 0.21% of Mitek Systems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MITK. Inspire Investing LLC bought a new position in shares of Mitek Systems during the 3rd quarter worth about $1,005,000. Principal Financial Group Inc. increased its holdings in shares of Mitek Systems by 124.5% during the third quarter. Principal Financial Group Inc. now owns 68,944 shares of the software maker’s stock valued at $674,000 after acquiring an additional 38,237 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Mitek Systems by 96.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 64,715 shares of the software maker’s stock worth $641,000 after purchasing an additional 31,718 shares during the period. Skylands Capital LLC lifted its holdings in shares of Mitek Systems by 140.0% in the 3rd quarter. Skylands Capital LLC now owns 225,296 shares of the software maker’s stock worth $2,201,000 after purchasing an additional 131,421 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in Mitek Systems by 31.2% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 578,100 shares of the software maker’s stock valued at $5,723,000 after purchasing an additional 137,500 shares during the period. 83.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Jefferies Financial Group upgraded Mitek Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $15.00 in a research note on Friday, February 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Mitek Systems in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

Mitek Systems Trading Down 3.6%

Shares of MITK opened at $14.65 on Friday. The stock has a 50 day moving average of $11.60 and a 200 day moving average of $10.31. The company has a market capitalization of $663.94 million, a price-to-earnings ratio of 41.86 and a beta of 0.99. Mitek Systems, Inc. has a 12 month low of $6.93 and a 12 month high of $15.61.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, February 5th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $44.24 million during the quarter, compared to the consensus estimate of $42.44 million. Mitek Systems had a return on equity of 16.86% and a net margin of 8.67%. As a group, equities research analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Mitek Systems Company Profile

Mitek Systems, Inc (NASDAQ: MITK) is a software company specializing in mobile capture and digital identity verification solutions. Headquartered in San Diego, California, Mitek develops and licenses patented technology that enables organizations to securely capture, authenticate and process identity documents, checks and other physical media using smartphones and other digital devices. Its platforms leverage advanced image processing, machine learning and biometrics to streamline customer onboarding and prevent fraud in real time.

The company’s core offerings include mobile check deposit and deposit automation tools for financial institutions, as well as identity verification and authentication services for banks, fintechs, insurers and government agencies.