XTX Topco Ltd has acquired a stake in Bk Technologies, Inc. (NYSEAMERICAN:BKTI) during the second quarter of 2023, as disclosed in the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,678 shares, valued at approximately $362,000. Following this acquisition, XTX Topco holds about 0.21% of Bk Technologies.
In addition to XTX Topco’s investment, several other institutional investors have adjusted their positions in Bk Technologies. Goldman Sachs Group Inc. entered the market with a new stake valued at $225,000 during the first quarter. Los Angeles Capital Management LLC also acquired shares amounting to approximately $260,000 in the second quarter. Furthermore, Uniplan Investment Counsel Inc. increased its stake by 40.1% in the first quarter, now owning 108,225 shares worth about $4.25 million after purchasing an additional 30,998 shares.
Ritholtz Wealth Management has also made headlines by lifting its stake in Bk Technologies by 51.7% in the second quarter, resulting in ownership of 36,376 shares valued at $1.71 million. Collectively, institutional investors own 55.05% of the company’s stock.
Insider Transactions and Company Performance
In related news, insider Branko Avanic sold 2,000 shares of Bk Technologies on September 8, 2023, at an average price of $68.41, resulting in a total transaction of $136,820. Following this trade, Avanic retains 10,969 shares, valued at approximately $750,389, marking a 15.42% reduction in ownership. This transaction has been reported in a legal filing with the SEC.
Bk Technologies recently released its earnings results on November 6, 2023, reporting earnings per share (EPS) of $1.27 for the quarter, surpassing analysts’ expectations of $0.96 by $0.31. The company’s revenue during the quarter reached $24.41 million, exceeding forecasts of $22.10 million. Bk Technologies has also reported a net margin of 15.71% and a return on equity of 40.39%. For fiscal year 2025, the company has set its guidance at $3.80 EPS.
Market Outlook and Analyst Ratings
On the investment front, Lake Street Capital has reiterated a “buy” rating on Bk Technologies shares as of September 15, 2023. According to data from MarketBeat.com, the stock currently holds a consensus rating of “buy” with an average target price set at $74.00.
Bk Technologies, through its subsidiary, is engaged in the design, manufacture, and marketing of wireless communications products both in the United States and internationally. The company specializes in two-way land mobile radios (LMR), which can be either hand-held or vehicle-installed.
For those interested in the latest developments and insider transactions involving Bk Technologies, recent filings can be accessed at HoldingsChannel.com. Additionally, MarketBeat.com offers a free daily email newsletter summarizing the latest news and analyst ratings related to Bk Technologies and similar companies.
