AssetMark Financial Holdings, Inc. (NYSE:AMK) CEO Michael Kim Sells 9,445 Shares

AssetMark Financial Holdings, Inc. (NYSE:AMK) CEO Michael Kim sold 9,445 shares of the company’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 $324,908.00. Following the transaction, the chief executive officer now directly owns 355,332 shares of the company’s stock, valued at approximately $12,223,420.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AssetMark Financial Trading Down 0.4 %

AMK traded down $0.15 during trading on Tuesday, hitting $34.11. 1,089,704 shares of the company’s stock were exchanged, compared to its average volume of 346,114. 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 Holdings, Inc. has a 1 year low of $22.92 and a 1 year high of $37.54. The stock has a 50 day moving average price of $34.46 and a 200 day moving average price of $32.42. The firm has a market cap of $2.54 billion, a P/E ratio of 17.86 and a beta of 1.10.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings data 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 the consensus estimate of $143.91 million. AssetMark Financial had a net margin of 19.92% and a return on equity of 12.93%. AssetMark Financial’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. As a group, analysts expect that AssetMark Financial Holdings, Inc. will post 2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake in shares of AssetMark Financial by 6,360.0% in the first quarter. Acadian Asset Management LLC now owns 2,584 shares of the company’s stock valued at $91,000 after purchasing an additional 2,544 shares during the period. Quantbot Technologies LP purchased a new position in shares of AssetMark Financial in the third quarter valued at $81,000. SG Americas Securities LLC bought a new position in AssetMark Financial during the 4th quarter valued at $169,000. Price T Rowe Associates Inc. MD bought a new position in AssetMark Financial during the 1st quarter valued at $223,000. Finally, Arizona State Retirement System bought a new position in AssetMark Financial during the 4th quarter valued at $218,000. 28.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. 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. Raymond James boosted their price objective 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.