Irenic Capital Management LP Grows Holdings in Alkami Technology, Inc. $ALKT

Irenic Capital Management LP increased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 27.0% during the first quarter, Holdings Channel.com reports. The firm owned 2,675,151 shares of the company’s stock after acquiring an additional 568,703 shares during the quarter. Alkami Technology accounts for 2.8% of Irenic Capital Management LP’s investment portfolio, making the stock its 9th largest holding. Irenic Capital Management LP’s holdings in Alkami Technology were worth $41,920,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ALKT. Amundi boosted its position in Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after buying an additional 548 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after buying an additional 594 shares during the period. Legal & General Group Plc lifted its stake in shares of Alkami Technology by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock valued at $2,113,000 after acquiring an additional 691 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after acquiring an additional 692 shares during the last quarter. Finally, Summit Securities Group LLC boosted its holdings in Alkami Technology by 84.2% during the 1st quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock valued at $29,000 after acquiring an additional 842 shares during the period. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Performance

Alkami Technology stock opened at $18.17 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1.94 billion, a P/E ratio of -38.66 and a beta of 0.57. Alkami Technology, Inc. has a 1-year low of $13.98 and a 1-year high of $28.53. The firm has a 50-day moving average of $16.86 and a 200-day moving average of $17.33.

Alkami Technology (NASDAQ:ALKT) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The business had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. During the same period in the previous year, the company earned $0.08 EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. Sell-side analysts expect that Alkami Technology, Inc. will post 0.18 EPS for the current year.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 675,000 shares of Alkami Technology stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the purchase, the director owned 19,420,994 shares of the company’s stock, valued at approximately $320,252,191.06. This represents a 3.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 4,041,543 shares of company stock valued at $67,594,674. 17.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ALKT has been the topic of several recent research reports. Citizens Jmp reduced their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alkami Technology has an average rating of “Hold” and a consensus target price of $22.20.

Alkami Technology Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.