A Director at Mitek Systems Inc (MITK) is Buying Shares


Today, a Director at Mitek Systems Inc (NASDAQ: MITK), James C. Hale, bought shares of MITK for $143.4K.

Following this transaction James C. Hale’s holding in the company was increased by 21.95% to a total of $803K. This is Hale’s first transaction since reporting a Sell transaction on OPAY back in November 2013

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Based on Mitek Systems Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $16.11 million and GAAP net loss of $2.78 million. In comparison, last year the company earned revenue of $11.8 million and had a net profit of $616K. MITK’s market cap is $273.1M and the company has a P/E ratio of 103.21. Currently, Mitek Systems Inc has an average volume of 300.5K.

Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $15.00, reflecting a 111.3% upside. Three different firms, including Roth Capital and National Securities Corp, currently also have a Buy rating on the stock.

The insider sentiment on Mitek Systems Inc has been negative according to 39 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Mitek Systems, Inc. engages in the the development, sale, and service of its proprietary software solutions related to mobile image capture and identity verification. The firm is a mobile imaging software solutions provider that allows users to remotely deposit checks, pay their bills, get insurance quotes, and transfer credit card.

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