Irenic Capital Management LP Has $41.92 Million Position in Alkami Technology, Inc. $ALKT

Irenic Capital Management LP boosted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 27.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,675,151 shares of the company’s stock after acquiring an additional 568,703 shares during the period. Alkami Technology accounts for approximately 2.8% of Irenic Capital Management LP’s portfolio, making the stock its 9th largest holding. Irenic Capital Management LP owned approximately 2.50% of Alkami Technology worth $41,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Amundi raised its position in shares of Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after purchasing an additional 548 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after acquiring an additional 594 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Alkami Technology by 0.8% in the third quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock worth $2,113,000 after acquiring an additional 691 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares in the last quarter. Finally, Summit Securities Group LLC raised its stake in shares of 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 purchasing an additional 842 shares during the period. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Atlantic Genpar (Bermu General purchased 675,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the purchase, the director directly owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. This trade represents a 3.60% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 4,041,543 shares of company stock worth $67,594,674 in the last quarter. Company insiders own 17.10% of the company’s stock.

Alkami Technology Trading Up 2.3%

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

Alkami Technology (NASDAQ:ALKT) last issued 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 return on equity of 8.91% and a negative net margin of 10.55%.The company had revenue of $126.14 million during 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. Alkami Technology’s quarterly revenue was up 28.9% on a year-over-year basis. Sell-side analysts forecast that Alkami Technology, Inc. will post 0.18 earnings per share for the current fiscal year.

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.