Anson Funds Management LP Invests $998,000 in Mitek Systems, Inc. $MITK

Key Points

• Anson Funds Management purchased 73,930 shares of Mitek Systems worth approximately $998,000, while institutional ownership reached 83.64% of the company’s outstanding stock.
• Analyst sentiment is mixed, with one Buy and two Hold ratings; Mitek has a consensus rating of Hold and a $16.00 price target.
• Mitek reported quarterly EPS of $0.38, beating estimates of $0.26, while revenue of $54.84 million also exceeded expectations. Shares opened at $16.73, down 0.3%.

Anson Funds Management LP bought a new stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 73,930 shares of the software maker's stock, valued at approximately $998,000. Anson Funds Management LP owned about 0.16% of Mitek Systems at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in shares of Mitek Systems by 138.3% in the first quarter. AQR Capital Management LLC now owns 111,967 shares of the software maker's stock valued at $924,000 after acquiring an additional 64,980 shares in the last quarter. Creative Planning increased its holdings in shares of Mitek Systems by 87.6% during the second quarter. Creative Planning now owns 30,133 shares of the software maker's stock worth $298,000 after purchasing an additional 14,070 shares during the period. Rhumbline Advisers raised its position in shares of Mitek Systems by 39.2% in the second quarter. Rhumbline Advisers now owns 91,877 shares of the software maker's stock valued at $910,000 after buying an additional 25,878 shares in the last quarter. American Century Companies Inc. raised its position in shares of Mitek Systems by 49.7% in the second quarter. American Century Companies Inc. now owns 69,871 shares of the software maker's stock valued at $692,000 after buying an additional 23,212 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Mitek Systems in the second quarter valued at approximately $153,000. 83.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MITK shares. Wall Street Zen downgraded Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Northland Securities set a $17.00 price objective on Mitek Systems in a report on Wednesday, April 15th. Zacks Research downgraded Mitek Systems from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 16th. Finally, Weiss Ratings raised Mitek Systems from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Mitek Systems presently has a consensus rating of "Hold" and a consensus price target of $16.00.

Insiders Place Their Bets

In other Mitek Systems news, COO Garrett Gafke sold 21,108 shares of Mitek Systems stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $14.19, for a total value of $299,522.52. Following the transaction, the chief operating officer owned 244,279 shares in the company, valued at $3,466,319.01. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is owned by company insiders.

Mitek Systems Trading Down 0.3%

Shares of MITK stock opened at $16.73 on Thursday. The stock's fifty day moving average price is $17.61 and its two-hundred day moving average price is $14.75. The company has a market cap of $755.53 million, a PE ratio of 47.80 and a beta of 0.97. Mitek Systems, Inc. has a fifty-two week low of $8.53 and a fifty-two week high of $21.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.61 and a current ratio of 2.61.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The software maker reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.12. Mitek Systems had a return on equity of 16.74% and a net margin of 8.74%.The company had revenue of $54.84 million during the quarter, compared to analysts' expectations of $52.59 million. Equities analysts predict that Mitek Systems, Inc. will post 0.86 EPS for the current fiscal 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.

Want to see what other hedge funds are holding MITK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitek Systems, Inc. (NASDAQ:MITK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.