Next Century Growth Investors, LLC, an investment Management Company, released its “Micro-Cap Strategy” fourth-quarter investor letter. A copy of the letter can be downloaded here. The recent surge in the stock market highlights the significance of current macroeconomic indicators and the Fed’s outlook on future interest rates. The strategy returned 9.54% (net of fees) compared to 15.63% for the Russell Microcap Growth Index. Over the trailing year, the strategy returned 10.15% compared to 9.10% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
NCG Micro-Cap Strategy featured stocks like Alkami Technology, Inc. (NASDAQ:ALKT) in the Q4 2023 investor letter. Headquartered in Plano, Texas, Alkami Technology, Inc. (NASDAQ:ALKT) offers cloud-based digital banking solutions. On April 1, 2024, Alkami Technology, Inc. (NASDAQ:ALKT) stock closed at $23.69 per share. One-month return of Alkami Technology, Inc. (NASDAQ:ALKT) was -1.46%, and its shares gained 89.98% of their value over the last 52 weeks. Alkami Technology, Inc. (NASDAQ:ALKT) has a market capitalization of $2.213 billion.
NCG Micro-Cap Strategy stated the following regarding Alkami Technology, Inc. (NASDAQ:ALKT) in its fourth quarter 2023 investor letter:
“Alkami Technology, Inc. (NASDAQ:ALKT) provides a modern digital banking software solution to credit unions and banks and is taking market share from legacy competitors. Having a modern solution with enhanced features is a priority for credit unions and banks to attract and retain customers as well as keep up with the largest banks in the country. ALKT was part of the 2021 IPO class – many of these companies came public at high valuations and with high expectations, and then experienced poor stock performance. ALKT delivered solid fundamentals throughout that period, most recently experiencing >25% revenue growth and crossing over into positive cash flow generation, but the stock is still down significantly from the IPO. With a more attractive valuation now and a continued strong growth opportunity, we believe there is opportunity for compounding of company value ahead.”
A close up of a financial institution’s server displaying multiple banking solutions.
Alkami Technology, Inc. (NASDAQ:ALKT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Alkami Technology, Inc. (NASDAQ:ALKT) was held by 14 hedge fund portfolios, compared to 10 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
