Y Intercept Hong Kong Ltd Makes New $957,000 Investment in Mitek Systems, Inc. $MITK

Y Intercept Hong Kong Ltd bought a new position in shares of Mitek Systems, Inc. (NASDAQ:MITK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 97,980 shares of the software maker’s stock, valued at approximately $957,000. Y Intercept Hong Kong Ltd owned about 0.21% of Mitek Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MITK. Legal & General Group Plc boosted its stake in Mitek Systems by 1.3% during the second quarter. Legal & General Group Plc now owns 3,009,368 shares of the software maker’s stock worth $29,793,000 after buying an additional 38,612 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Mitek Systems by 5.1% during the 2nd quarter. Invesco Ltd. now owns 1,890,484 shares of the software maker’s stock worth $18,716,000 after acquiring an additional 92,494 shares during the period. Marshall Wace LLP boosted its position in shares of Mitek Systems by 25.1% during the 2nd quarter. Marshall Wace LLP now owns 1,352,786 shares of the software maker’s stock valued at $13,393,000 after acquiring an additional 271,498 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Mitek Systems by 2.0% in the second quarter. Geode Capital Management LLC now owns 1,093,600 shares of the software maker’s stock valued at $10,829,000 after purchasing an additional 21,087 shares during the period. Finally, Kent Lake PR LLC grew its holdings in shares of Mitek Systems by 8.3% in the second quarter. Kent Lake PR LLC now owns 900,000 shares of the software maker’s stock valued at $8,910,000 after purchasing an additional 69,232 shares during the period. Institutional investors and hedge funds own 83.64% of the company’s stock.

Mitek Systems Trading Down 0.3%

Shares of NASDAQ:MITK opened at $10.02 on Monday. The company has a market capitalization of $453.91 million, a price-to-earnings ratio of 52.74 and a beta of 1.07. Mitek Systems, Inc. has a 12-month low of $6.93 and a 12-month high of $11.39. The business has a 50-day moving average price of $9.98 and a 200 day moving average price of $9.72.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Mitek Systems in a report on Monday, December 29th. Two research analysts have 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 company currently has an average rating of “Moderate Buy” and an average price target of $13.50.

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.