Activist investor Jana Partners has taken a 5.1% stake in Alkami Technology, as it believes that the banking technology company’s shares are undervalued.
Jana owned 5.4 million shares of Alkami, a Plano, Texas-headquartered fintech provider for banks and credit unions, as of March 25, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.
In November, Reuters had reported that the activist investor had taken a stake in Alkami in the third quarter.
By building the position, the hedge fund is signaling its interest in the company and that it has committed significant resources.
Jana has urged Alkami Technology to explore a sale to a rival or private equity firm, Bloomberg News reported in December.
Source: Reuters.com