GlobeFlex Exits NCR Atleos After Brink’s Buyout Deal

What happened

According to a recent SEC filing dated May 13, 2026, GlobeFlex Capital reported selling its entire stake of 250,950 shares in NCR Atleos Corporation (NYSE:NATL) during the first quarter. The estimated value of the shares sold was $10.37 million, calculated using the mean unadjusted closing price for the quarter. The quarter-end position value for this holding decreased by $9.56 million, a figure that reflects both trading activity and market price changes.

What else to know

• The fund sold out of NCR Atleos Corporation, reducing its position from 3.8% of AUM in the previous quarter to zero.
• Top holdings after the filing:
  • NYSE:IFS: $21.6 million (3.2631% of AUM)
  • NASDAQ:PAHC: $11.6 million (1.7580% of AUM)
  • NASDAQ:BLBD: $11.2 million (1.6999% of AUM)
  • NASDAQ:EXEL: $11.2 million (1.6921% of AUM)
  • NASDAQ:CPRX: $11,156,361 (1.6883% of AUM)
• As of May 20, 2026, shares of NCR Atleos Corporation were priced at $45.96, up 64.22% over the past year, outperforming the S&P 500 by 20.84 percentage points.

Company overview

Metric	Value
Price (as of market close 5-20-2026)	$45.96
Market Capitalization	$3.30 billion
Revenue (TTM)	$4.42 billion
Net Income (TTM)	$176.00 million

Company snapshot

• Offers self-service banking solutions, including ATM hardware and software, managed services, and a global ATM network; also provides infrastructure and network management for enterprise clients.
• Generates revenue through product sales, recurring managed services, ATM network fees, and technology infrastructure contracts.
• Serves financial institutions, fintechs, neobanks, retailers, manufacturers, and enterprise technology clients globally.

NCR Atleos delivers self-service banking technology and managed services to financial institutions and enterprise clients worldwide. NCR Atleos Corporation is a leading provider of self-directed banking and financial technology solutions, operating at a global scale with a diversified client base. The company leverages its extensive ATM network and managed service offerings to drive recurring revenue and support digital transformation for financial services providers. NCR Atleos' integrated platform and international presence position it competitively in the evolving fintech and payments landscape.

What this transaction means for investors

Recently, GlobeFlex sold its entire stake in NCR Atleos. Investors often take note of such an action, perhaps wondering whether the asset manager sees risks that ordinary investors are overlooking– especially when it looks like the company is prospering.

NCR Atleos’ first-quarter financials were strong, with year-over-year revenue beating analyst expectations, a consistent revenue stream, and solid bottom-line margins despite tariffs and rising costs for memory chips. But one significant factor may explain GlobeFlex’s exit: its pending acquisition by Brink’s.

Buyout announcements can push stocks close to their acquisition value, leading institutional investors to sell out and lock in gains. Once a takeover price is determined, there is limited future upside, so investors often choose to park their capital in assets with better potential for growth.

Does that mean NCR Atleos is a poor investment for individuals? For one thing, those who already own shares are expected to eventually receive $30 in cash plus 0.1574 Brink’s shares for each share they own. Brink’s is a solid company with strong earnings, though it’s been volatile of late. Because much of the acquisition value is already reflected in the stock price, some investors may prefer to look elsewhere for higher-growth opportunities.

Pamela Kock has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Blue Bird and Exelixis. The Motley Fool has a disclosure policy.