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

Shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) saw an uptick in trading volume on Wednesday . 915,698 shares changed hands during trading, an increase of 204% from the previous session’s volume of 301,532 shares.The stock last traded at $33.94 and had previously closed at $33.94.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMK shares. William Blair lowered shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. cut shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, April 26th. Finally, Raymond James upped their price objective on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th.

AssetMark Financial Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The business’s 50-day moving average price is $35.17 and its two-hundred day moving average price is $30.75. The company has a market capitalization of $2.52 billion, a P/E ratio of 17.78 and a beta of 1.11.

AssetMark Financial (NYSE:AMK) last posted its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. The firm had revenue of $190.27 million during the quarter, compared to analysts’ expectations of $143.91 million. During the same period in the previous year, the firm earned $0.53 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. As a group, analysts forecast that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of AssetMark Financial in the 3rd quarter valued at about $81,000. SG Americas Securities LLC bought a new stake in AssetMark Financial in the 4th quarter valued at approximately $169,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AssetMark Financial by 40.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after acquiring an additional 2,059 shares during the last quarter. Arizona State Retirement System bought a new position in shares of AssetMark Financial during the 4th quarter worth approximately $218,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of AssetMark Financial in the fourth quarter valued at approximately $230,000. 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.