AssetMark Financial (NYSE:AMK) Downgraded by William Blair to “Market Perform”

AssetMark Financial (NYSE:AMK) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, FinViz reports.

Separately, Raymond James lifted their price target on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 11th.

AssetMark Financial Stock Performance

NYSE AMK traded down $0.90 on Thursday, reaching $34.00. 769,511 shares of the company’s stock traded hands, compared to its average volume of 203,240. AssetMark Financial has a fifty-two week low of $22.92 and a fifty-two week high of $37.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.84 and a current ratio of 3.84. The stock has a 50 day moving average price of $35.01 and a 200-day moving average price of $30.11. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 20.76 and a beta of 1.11.

AssetMark Financial (NYSE:AMK) last issued its earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. The business had revenue of $158.18 million for the quarter, compared to the consensus estimate of $188.88 million. Equities research analysts predict that AssetMark Financial will post 2.46 EPS for the current fiscal year.

Hedge Funds Weigh In On AssetMark Financial

A number of hedge funds have recently made changes to their positions in AMK. Lmcg Investments LLC acquired a new position in shares of AssetMark Financial during the 3rd quarter worth approximately $915,000. SG Americas Securities LLC acquired a new stake in AssetMark Financial during the fourth quarter worth approximately $169,000. Phocas Financial Corp. purchased a new position in shares of AssetMark Financial in the 4th quarter valued at $3,248,000. Hsbc Holdings PLC bought a new stake in shares of AssetMark Financial in the 3rd quarter worth about $231,000. Finally, Jennison Associates LLC grew its position in AssetMark Financial by 7.8% in the 4th quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock worth $55,509,000 after purchasing an additional 133,576 shares during the last quarter. Institutional investors own 28.64% of the company’s stock.

About AssetMark Financial

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform 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 solutions to the financial adviser channel.