AssetMark Financial Holdings, Inc. (NYSE:AMK – Get Rating) insider Michael Kim sold 1,801 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $20.00, for a total value of $36,020.00. Following the sale, the insider now owns 374,738 shares in the company, valued at $7,494,760. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of AMK traded down $0.52 during mid-day trading on Friday, hitting $19.26. The stock had a trading volume of 112,194 shares, compared to its average volume of 77,785. AssetMark Financial Holdings, Inc. has a fifty-two week low of $17.92 and a fifty-two week high of $29.54. The company has a market cap of $1.42 billion, a PE ratio of 24.69 and a beta of 1.10. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $20.31 and its two-hundred day simple moving average is $22.86.
AssetMark Financial (NYSE:AMK – Get Rating) last released its quarterly earnings data on Thursday, April 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.44). AssetMark Financial had a net margin of 10.15% and a return on equity of 5.33%. The company had revenue of $148.30 million for the quarter, compared to analyst estimates of $108.17 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities analysts expect that AssetMark Financial Holdings, Inc. will post 1.54 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in AMK. JPMorgan Chase & Co. boosted its position in AssetMark Financial by 9.0% during the 1st quarter. JPMorgan Chase & Co. now owns 3,154,103 shares of the company’s stock worth $70,179,000 after acquiring an additional 259,120 shares during the period. Jennison Associates LLC boosted its position in AssetMark Financial by 37.1% during the 4th quarter. Jennison Associates LLC now owns 761,480 shares of the company’s stock worth $19,958,000 after acquiring an additional 206,037 shares during the period. Credit Suisse AG boosted its position in AssetMark Financial by 1,886.0% during the 3rd quarter. Credit Suisse AG now owns 214,929 shares of the company’s stock worth $5,346,000 after acquiring an additional 204,107 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in AssetMark Financial during the 4th quarter worth $4,230,000. Finally, Millennium Management LLC boosted its position in AssetMark Financial by 214.2% during the 4th quarter. Millennium Management LLC now owns 198,041 shares of the company’s stock worth $5,191,000 after acquiring an additional 135,016 shares during the period. Institutional investors and hedge funds own 26.10% of the company’s stock.
Several equities research analysts have issued reports on AMK shares. BMO Capital Markets dropped their price objective on AssetMark Financial from $32.00 to $27.00 in a report on Monday, May 2nd. Raymond James dropped their price objective on AssetMark Financial from $45.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 12th. Finally, Zacks Investment Research upgraded AssetMark Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Monday, February 21st.
About AssetMark Financial (Get Rating)
AssetMark Financial Holdings, Inc provides wealth management and technology solutions in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology to the financial adviser channel. The company provides integrated technology platform for advisers for accessing a range of automated processes, including new account opening, portfolio construction, streamlined financial planning, customer billing, investor reporting, progress to goal analysis, and client activity tracking; advisory services; and curated investment platform.
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