Insider Selling: AssetMark Financial Holdings, Inc. (NYSE:AMK) CFO Sells $267,838.40 in Stock

AssetMark Financial Holdings, Inc. (NYSE:AMKGet Free Report) CFO Gary G. Zyla sold 7,786 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $34.40, for a total transaction of $267,838.40. Following the sale, the chief financial officer now directly owns 92,795 shares of the company’s stock, valued at approximately $3,192,148. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AssetMark Financial Trading Down 0.5 %

AssetMark Financial stock opened at $34.22 on Friday. The firm has a 50 day moving average of $34.46 and a 200 day moving average of $32.44. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 17.92 and a beta of 1.10. AssetMark Financial Holdings, Inc. has a 12-month low of $22.92 and a 12-month high of $37.54. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 0.07.

AssetMark Financial (NYSE:AMKGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The company had revenue of $190.27 million during the quarter, compared to analyst estimates of $143.91 million. AssetMark Financial had a net margin of 19.92% and a return on equity of 12.93%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. As a group, research analysts predict that AssetMark Financial Holdings, Inc. will post 2.42 earnings per share for the current year.

Institutional Investors Weigh In On AssetMark Financial

A number of institutional investors have recently added to or reduced their stakes in AMK. Jennison Associates LLC grew its holdings in AssetMark Financial by 7.8% during the 4th quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock valued at $55,509,000 after buying an additional 133,576 shares in the last quarter. Azora Capital LP grew its holdings in AssetMark Financial by 32.8% during the 4th quarter. Azora Capital LP now owns 465,355 shares of the company’s stock valued at $13,937,000 after buying an additional 114,965 shares in the last quarter. Phocas Financial Corp. purchased a new stake in AssetMark Financial during the 4th quarter valued at approximately $3,248,000. Adage Capital Partners GP L.L.C. grew its holdings in AssetMark Financial by 14.8% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 787,960 shares of the company’s stock valued at $19,762,000 after buying an additional 101,707 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in AssetMark Financial by 11.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 943,396 shares of the company’s stock valued at $28,257,000 after buying an additional 98,444 shares in the last quarter. 28.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMK. Raymond James upped 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. JPMorgan Chase & Co. lowered shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, April 26th. Finally, William Blair lowered shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th.

View Our Latest Research Report on AssetMark Financial

AssetMark Financial Company Profile

(Get Free Report)

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.

Further Reading

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