Hodges Capital Management Inc. Acquires 63,095 Shares of Alkami Technology, Inc. $ALKT

Key Points

• Hodges Capital Management increased its stake in Alkami Technology by 22.4% in the first quarter, buying 63,095 additional shares and bringing its total holding to 344,423 shares worth about $5.4 million.
• Insider buying has been strong: a director acquired 675,000 shares in May, and insiders bought 4.0 million shares over the past three months, indicating notable confidence from company leadership.
• Alkami’s latest results were mixed: revenue rose 28.9% year over year to $126.14 million, but EPS missed estimates at -$0.09. Analysts currently have a consensus Hold rating with an average price target of $22.20.

Hodges Capital Management Inc. lifted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 22.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 344,423 shares of the company's stock after purchasing an additional 63,095 shares during the period. Hodges Capital Management Inc. owned 0.32% of Alkami Technology worth $5,397,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Amundi raised its position in Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company's stock worth $731,000 after purchasing an additional 548 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Alkami Technology by 32.4% in the 1st 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 during the period. Millennium Management LLC increased its stake 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 during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Alkami Technology by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company's stock worth $18,920,000 after acquiring an additional 71,949 shares during the last quarter. Institutional investors own 54.97% of the company's stock.

Insider Activity at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of Alkami Technology stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $16.49 per share, with a total value of $11,130,750.00. Following the transaction, the director directly owned 19,420,994 shares in the company, valued at $320,252,191.06. This represents a 3.60% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have purchased 4,041,543 shares of company stock worth $67,594,674. Company insiders own 17.10% of the company's stock.

Alkami Technology Stock Performance

ALKT stock opened at $19.02 on Monday. The firm has a market cap of $2.04 billion, a PE ratio of -40.47 and a beta of 0.57. 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 stock has a 50-day moving average price of $16.53 and a 200-day moving average price of $17.97. Alkami Technology, Inc. has a 1-year low of $13.98 and a 1-year high of $30.88.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.30). The business had revenue of $126.14 million for the quarter, compared to the consensus estimate of $125.22 million. Alkami Technology had a negative net margin of 10.55% and a negative return on equity of 8.91%. The firm's revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.08 EPS. As a group, equities research analysts expect that Alkami Technology, Inc. will post 0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALKT shares. JPMorgan Chase & Co. cut their price objective on Alkami Technology from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Monday, June 22nd. Weiss Ratings reissued a "sell (e+)" rating on shares of Alkami Technology in a research report on Friday, June 5th. Finally, Citizens Jmp lowered their price target on shares of Alkami Technology from $28.00 to $23.00 and set a "market outperform" rating for the company in a report on Thursday, April 30th. Three equities research 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. According to data from MarketBeat.com, Alkami Technology has a consensus rating of "Hold" and an average price target of $22.20.

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.

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