Irenic Capital Management LP Makes New Investment in Alkami Technology, Inc. $ALKT

Irenic Capital Management LP purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,106,448 shares of the company’s stock, valued at approximately $48,596,000. Alkami Technology makes up approximately 3.3% of Irenic Capital Management LP’s holdings, making the stock its 4th largest position.

Several other institutional investors also recently modified their holdings of ALKT. Amundi increased its holdings 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 buying an additional 548 shares in the last quarter. 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 valued at $64,000 after buying an additional 594 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alkami Technology by 19.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock valued at $947,000 after buying an additional 5,884 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Alkami Technology by 64.7% in the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after buying an additional 274,439 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Alkami Technology by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock valued at $18,920,000 after buying an additional 71,949 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Transactions at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 844,772 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $16.63 per share, with a total value of $14,048,558.36. Following the completion of the transaction, the director directly owned 17,445,994 shares of the company’s stock, valued at approximately $290,126,880.22. This trade represents a 5.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 4,041,543 shares of company stock valued at $67,594,674 over the last three months. Corporate insiders own 17.10% of the company’s stock.

Alkami Technology Trading Down 3.0%

Shares of NASDAQ:ALKT opened at $15.09 on Thursday. The stock has a market capitalization of $1.61 billion, a PE ratio of -32.11 and a beta of 0.58. Alkami Technology, Inc. has a 1 year low of $14.11 and a 1 year high of $31.08. The firm has a fifty day moving average price of $16.60 and a 200 day moving average price of $18.39. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.96.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $126.14 million during the quarter, compared to analyst estimates of $125.22 million. During the same period last year, the company earned $0.08 EPS. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. Analysts expect that Alkami Technology, Inc. will post 0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citizens Jmp dropped their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Barclays dropped their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. dropped their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Needham & Company LLC dropped their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Hold” and a consensus target price of $22.80.

About Alkami Technology

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.