AssetMark Financial Holdings, Inc. (NYSE:AMK) Short Interest Update

AssetMark Financial Holdings, Inc. (NYSE:AMK) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 901,500 shares, an increase of 16.3% from the June 15th total of 775,000 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 532,600 shares, the days-to-cover ratio is currently 1.7 days.

Insider Transactions at AssetMark Financial

In related news, COO Carrie E. Hansen sold 10,611 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $365,018.40. Following the sale, the chief operating officer now directly owns 134,582 shares of the company’s stock, valued at $4,629,620.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mukesh Mehta sold 8,880 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $305,472.00. Following the completion of the sale, the executive vice president now directly owns 304,791 shares in the company, valued at approximately $10,484,810.40. The sale 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 business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $34.40, for a total transaction of $365,018.40. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 39,251 shares of company stock valued at $1,350,234. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of AssetMark Financial by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,085,366 shares of the company’s stock worth $52,301,000 after buying an additional 24,116 shares during the period. SG Americas Securities LLC purchased a new stake in shares of AssetMark Financial in the 4th quarter worth about $169,000. Arizona State Retirement System purchased a new stake in shares of AssetMark Financial in the 4th quarter worth about $218,000. Phocas Financial Corp. purchased a new stake in shares of AssetMark Financial in the 4th quarter worth about $3,248,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AssetMark Financial by 13.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,027 shares of the company’s stock worth $240,000 after buying an additional 925 shares during the period. 28.64% of the stock is owned by hedge funds and other institutional investors.

AssetMark Financial Trading Down 0.3 %

AssetMark Financial stock traded down $0.12 during mid-day trading on Wednesday, reaching $34.41. 633,960 shares of the company traded hands, compared to its average volume of 351,076. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.65 and a quick ratio of 4.65. The firm’s 50 day moving average price is $34.24 and its 200 day moving average price is $33.62. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 18.04 and a beta of 1.10. AssetMark Financial has a 52-week low of $22.92 and a 52-week high of $37.54.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $190.27 million for 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 company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. On average, analysts anticipate that AssetMark Financial will post 2.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, April 26th. Raymond James lifted their target price 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. Finally, William Blair downgraded shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th.

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.