Short Interest in AssetMark Financial Holdings, Inc. (NYSE:AMK) Expands By 80.7%

AssetMark Financial Holdings, Inc. (NYSE:AMK) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 775,000 shares, an increase of 80.7% from the May 31st total of 428,800 shares. Based on an average daily volume of 526,400 shares, the short-interest ratio is presently 1.5 days. Approximately 3.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMK. William Blair cut shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. downgraded AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, April 26th. Finally, Raymond James increased their target price 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 %

Shares of AMK stock traded up $0.05 during trading hours on Friday, hitting $34.55. 1,019,178 shares of the company were exchanged, compared to its average volume of 433,305. The company has a 50 day simple moving average of $34.18 and a two-hundred day simple moving average of $33.11. The firm has a market cap of $2.57 billion, a P/E ratio of 18.09 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.65 and a current ratio of 4.65. AssetMark Financial has a fifty-two week low of $22.92 and a fifty-two week high of $37.54.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $190.27 million during the quarter, compared to the consensus estimate of $143.91 million. AssetMark Financial had a net margin of 19.92% and a return on equity of 12.93%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities analysts anticipate that AssetMark Financial will post 2.44 EPS for the current year.

Insider Activity

In other AssetMark Financial news, insider Esi Minta-Jacobs sold 2,529 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $34.40, for a total transaction of $86,997.60. Following the completion of the transaction, the insider now owns 66,766 shares of the company’s stock, valued at $2,296,750.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Esi Minta-Jacobs sold 2,529 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $34.40, for a total transaction of $86,997.60. Following the sale, the insider now owns 66,766 shares of the company’s stock, valued at approximately $2,296,750.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Carrie E. Hansen sold 10,611 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $365,018.40. Following the completion of the transaction, the chief operating officer now owns 134,582 shares of the company’s stock, valued at $4,629,620.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,251 shares of company stock worth $1,350,234. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On AssetMark Financial

Hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in AssetMark Financial by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 169,337 shares of the company’s stock valued at $4,247,000 after purchasing an additional 7,842 shares during the period. FMR LLC raised its holdings in shares of AssetMark Financial by 10.3% in the 3rd quarter. FMR LLC now owns 105,898 shares of the company’s stock worth $2,656,000 after acquiring an additional 9,932 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of AssetMark Financial in the 3rd quarter worth about $231,000. Quadrature Capital Ltd boosted its stake in AssetMark Financial by 46.6% during the 3rd quarter. Quadrature Capital Ltd now owns 10,579 shares of the company’s stock valued at $265,000 after purchasing an additional 3,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased 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 worth $19,762,000 after purchasing an additional 101,707 shares in the last quarter. Institutional investors and hedge funds own 28.64% of the company’s stock.

AssetMark Financial Company Profile

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.