Skylands Capital LLC Buys 131,421 Shares of Mitek Systems, Inc. $MITK

Skylands Capital LLC raised its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 140.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,296 shares of the software maker’s stock after acquiring an additional 131,421 shares during the period. Skylands Capital LLC owned about 0.49% of Mitek Systems worth $2,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System purchased a new stake in shares of Mitek Systems in the third quarter valued at about $39,000. Tower Research Capital LLC TRC grew its position in Mitek Systems by 320.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,018 shares of the software maker’s stock worth $60,000 after purchasing an additional 4,586 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Mitek Systems by 13.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 12,100 shares of the software maker’s stock valued at $118,000 after buying an additional 1,449 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Mitek Systems during the 3rd quarter worth approximately $130,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Mitek Systems in the 2nd quarter worth approximately $136,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mitek Systems in a research report on Monday, December 29th. Wall Street Zen raised Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Mitek Systems has a consensus rating of “Hold”.

Mitek Systems Trading Down 2.1%

Shares of NASDAQ MITK opened at $11.56 on Wednesday. The stock has a fifty day simple moving average of $10.23 and a two-hundred day simple moving average of $9.78. Mitek Systems, Inc. has a 1-year low of $6.93 and a 1-year high of $12.00. The firm has a market cap of $523.85 million, a price-to-earnings ratio of 33.03 and a beta of 1.07.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Thursday, February 5th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $44.24 million for the quarter, compared to analyst estimates of $42.44 million. Mitek Systems had a return on equity of 16.86% and a net margin of 8.67%. Analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current year.

About Mitek Systems

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.