AssetMark Financial (NYSE:AMK) Sees Unusually-High Trading Volume

AssetMark Financial Holdings, Inc. (NYSE:AMK) shares saw unusually-strong trading volume on Thursday . Approximately 747,988 shares changed hands during mid-day trading, an increase of 268% from the previous session’s volume of 203,240 shares.The stock last traded at $34.02 and had previously closed at $34.90.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMK shares. JPMorgan Chase & Co. downgraded shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday. William Blair cut shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Raymond James boosted their price target on shares of AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th.

AssetMark Financial Trading Up 0.1 %

The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.52 billion, a PE ratio of 20.69 and a beta of 1.11. The business’s 50-day moving average is $35.05 and its two-hundred day moving average is $30.13.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $158.18 million for the quarter, compared to analyst estimates of $188.88 million. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. On average, analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMK. Quantbot Technologies LP acquired a new position in AssetMark Financial in the third quarter valued at $81,000. SG Americas Securities LLC acquired a new position in AssetMark Financial in the fourth quarter valued at $169,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in AssetMark Financial by 40.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock valued at $178,000 after purchasing an additional 2,059 shares during the period. Arizona State Retirement System acquired a new position in AssetMark Financial in the fourth quarter valued at $218,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of AssetMark Financial during the fourth quarter worth about $230,000. 28.64% of the stock is currently owned by institutional investors and hedge funds.

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.