UPDATE 1-Hedge fund Elliott raises pressure on Mitek after takeover bid rejected [Reuters]
Mitek Systems, Inc. (MITK)
Last mitek systems, inc. earnings: 4/30 04:05 pm
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Source: Reuters
UPDATE 1-Hedge fund Elliott raises pressure on Mitek after takeover bid rejected | Reuters 3 Min Read (Adds details on Elliott stake) By Svea Herbst-Bayliss and Liana B. Baker NEW YORK, Nov 20 (Reuters) - Hedge fund Elliott Management on Tuesday asked Mitek Systems Inc to scrap a so-called “poison pill” to let it buy more stock and said it may press for board changes after the software company took steps to protect itself from the activist investor. Elliott, which invests more than $34 billion, wrote to Mitek’s board and asked for “relief from the poison pill recently enacted” in order to buy as much as 14.9 percent of the company’s stock. Elliott has not disclosed the size of its stake, which includes common stock and swaps, but has said it is one of the company’s biggest shareholders. Mitek did not immediately respond to a request for comment. Elliott is increasing the pressure on San Diego-based Mitek at a time when software company ASG Technologies, which the hedge fund owns, has
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MITK
News
- Mitek Systems, Inc. (NASDAQ: MITK) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Mitek Systems, Inc. (NASDAQ:MITK) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Mitek Systems, Inc. (NASDAQ: MITK) had its price target raised by analysts at Craig Hallum from $17.00 to $19.00. They now have a "buy" rating on the stock.MarketBeat
- Mitek Systems' (MITK) Q1 Earnings & Revenues Decline Y/Y [Yahoo! Finance]Yahoo! Finance
- Mitek Systems, Inc. (NASDAQ: MITK) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $19.00 price target on the stock.MarketBeat
MITK
Sec Filings
- 4/17/24 - Form 8-K/A
- 4/15/24 - Form 10-Q
- 4/15/24 - Form 8-K
- MITK's page on the SEC website