Graham Capital Management L.P. Purchases Shares of 59,777 Mitek Systems, Inc. (NASDAQ:MITK)

Graham Capital Management L.P. purchased a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 59,777 shares of the software maker’s stock, valued at approximately $665,000. Graham Capital Management L.P. owned 0.13% of Mitek Systems as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in Mitek Systems during the 4th quarter valued at about $31,000. Canada Pension Plan Investment Board bought a new stake in shares of Mitek Systems in the fourth quarter worth approximately $39,000. Ancora Advisors LLC bought a new stake in Mitek Systems during the fourth quarter valued at approximately $67,000. Avior Wealth Management LLC grew its position in Mitek Systems by 24.7% during the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock valued at $96,000 after buying an additional 1,700 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Mitek Systems during the fourth quarter valued at approximately $105,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Edward H. West acquired 55,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $9.21 per share, with a total value of $506,550.00. Following the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at approximately $506,550. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by company insiders.

Mitek Systems Trading Down 0.9%

MITK stock opened at $9.60 on Thursday. The company has a market capitalization of $434.34 million, a PE ratio of 106.67 and a beta of 1.11. Mitek Systems, Inc. has a 12 month low of $6.93 and a 12 month high of $14.18. The firm’s 50-day moving average is $8.41 and its 200 day moving average is $9.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Thursday, May 8th. The software maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.10. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The company had revenue of $51.93 million for the quarter, compared to analysts’ expectations of $47.21 million. Mitek Systems’s revenue was up 10.4% on a year-over-year basis. On average, research analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MITK. StockNews.com upgraded shares of Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, Maxim Group increased their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $12.88.

Mitek Systems Profile

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.