Insiders Are Buying These 3 Beaten-Down Stocks. Should You Follow?

By Trey Thoelcke Published Mar 16, 7:45AM EDT

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Alkami Technology (ALKT) posted Q4 revenue of $120.79M, up 34.7% year-over-year, with net dollar retention at 115% and ARR churn below 1%, as General Atlantic accumulated 2.8M shares at $17.35 to $18.41 amid a 28.71% annual decline. AdaptHealth (AHCO) generated full-year operating cash flow of $601.77M, up 11.06%, with management guiding FY2026 Adjusted EBITDA to $680M to $730M, as Richard Cashin purchased 2M shares around $9.73 despite a 71.5% five-year decline. Tecnoglass (TGLS) reported record Q4 revenue of $245.30M and a record backlog of $1.30B, up 16.1%, with a forward P/E of roughly 10x, as Energy Holding added to its position near 52-week lows.
Large beneficial owners are accumulating shares in all three stocks as they trade near multi-year lows, betting that near-term pressure from cost inflation, earnings impairments, and currency headwinds masks underlying cash generation and demand visibility.
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Insiders Are Buying These 3 Beaten-Down Stocks. Should You Follow? — © frender / iStock via Getty Images

Three beneficial owners filed open-market purchases this past week, each targeting a stock under significant pressure. General Atlantic accumulated shares in Alkami Technology (NASDAQ: ALKT) across three consecutive sessions. Richard Cashin stepped into AdaptHealth (NASDAQ: AHCO) with aggressive buying. And Energy Holding added to its position in Tecnoglass (NYSE: TGLS). Each purchase carries a distinct thesis worth understanding.

General Atlantic Doubles Down on Alkami

General Atlantic, already a 10% owner and board participant, purchased 2,845,015 shares across March 9, 10, and 11, 2026, at prices ranging from $17.35 to $18.41 per share. The stock has fallen 28.71% over the past year, creating what appears to be a conviction re-entry for an investor that knows the business intimately.

Alkami posted Q4 revenue of $120.79 million, up 34.7% year-over-year, with adjusted EBITDA of $19.14 million, nearly doubled year-over-year. Revenue per user climbed 20% to $21.44, net dollar retention sits at 115%, and annual recurring revenue (ARR) churn is below 1%. Management guided FY2026 revenue to $525.5 million to $530.5 million, with adjusted EBITDA of $93.5 million to $97.5 million. The thesis: a high-retention SaaS model serving regional banks and credit unions, still unprofitable on a GAAP basis but approaching cash flow inflection. The MANTL acquisition adds omnichannel account-opening to the platform, and over 50% of new logo online banking deals in H2 2025 adopted the full platform umbrella. Analyst consensus targets $22.67 versus the current $18 price. Retirement-focused investors should note the ongoing GAAP losses and integration risk, but General Atlantic’s repeat accumulation at these levels reflects a significant commitment by a long-term stakeholder.

Richard Cashin Bets on AdaptHealth’s Recovery

Cashin, a 10% owner, executed three purchases between March 10 and 12, 2026, totaling 2,046,691 shares at prices clustered around $9.73. The stock has recovered modestly from post-earnings lows, now trading at $10.60, but remains down 71.5% over five years.

The Q4 report was messy: a $128 million non-cash goodwill impairment in the Diabetes Health unit drove a significant earnings miss. But operating cash flow for the full year reached $601.77 million, up 11.06% year-over-year. Management guided FY2026 adjusted EBITDA to $680 million to $730 million and free cash flow to $175 million to $225 million, underpinned by what CEO Suzanne Foster described as “the largest capitated contract in the industry’s history.” The stock trades at roughly 0.44x trailing sales, a valuation that reflects deep pessimism if the capitated contract ramp materializes. The risk is real: repeated earnings misses and a structurally impaired diabetes segment. But Cashin’s buying pace suggests he views the cash flow story as the operative metric, not GAAP earnings.

Energy Holding Accumulates Tecnoglass Near Lows

Tecnoglass has pulled back 31.17% over the past year, pressured by margin compression from near-record aluminum costs, tariff headwinds, and Colombian peso strength. The company delivered record Q4 revenue of $245.30 million and holds a record backlog of $1.30 billion, up 16.1% year-over-year, extending visibility well into 2027. Residential orders grew 20% year-over-year in Q4. The company repurchased $118 million in shares during FY2025 and has approximately $110 million remaining under its expanded $250 million authorization. The forward P/E sits at roughly 10x, and the analyst consensus target of $66.25 implies substantial upside from the current $45.71. Energy Holding’s accumulation near 52-week lows aligns with insider buying the company itself has disclosed. The margin compression is largely cost-driven rather than demand-driven, and the backlog provides visibility into future revenue.

In Conclusion

All three purchases represent insiders and large beneficial owners buying into weakness rather than chasing strength. Each stock carries distinct risks that investors should weigh against their own risk tolerance and time horizon before drawing conclusions.

About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.