Insider Selling: AssetMark Financial Holdings, Inc. (NYSE:AMK) EVP Sells $305,472.00 in Stock

AssetMark Financial Holdings, Inc. (NYSE:AMKGet Free Report) EVP Mukesh Mehta sold 8,880 shares of the company’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 $305,472.00. Following the completion of the sale, the executive vice president now owns 304,791 shares of the company’s stock, valued at approximately $10,484,810.40. The transaction was disclosed in a filing with the SEC, which is available through this link.

AssetMark Financial Stock Performance

Shares of AMK stock opened at $34.22 on Friday. AssetMark Financial Holdings, Inc. has a 52 week low of $22.92 and a 52 week high of $37.54. The firm’s 50-day simple moving average is $34.46 and its two-hundred day simple moving average is $32.44. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 17.92 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 (NYSE:AMKGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. AssetMark Financial had a net margin of 19.92% and a return on equity of 12.93%. The company had revenue of $190.27 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same quarter in the previous year, the firm posted $0.53 EPS. AssetMark Financial’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts forecast that AssetMark Financial Holdings, Inc. will post 2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMK shares. JPMorgan Chase & Co. downgraded shares of 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. William Blair downgraded AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th. Finally, Raymond James lifted their price target on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th.

Read Our Latest Stock Analysis on AssetMark Financial

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Azora Capital LP increased its holdings in AssetMark Financial by 32.8% in the 4th quarter. Azora Capital LP now owns 465,355 shares of the company’s stock worth $13,937,000 after acquiring an additional 114,965 shares during the last quarter. Jennison Associates LLC boosted its position in AssetMark Financial by 7.8% during the fourth quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock worth $55,509,000 after purchasing an additional 133,576 shares during the period. SG Americas Securities LLC purchased a new position in shares of AssetMark Financial in the fourth quarter worth about $169,000. Phocas Financial Corp. bought a new stake in shares of AssetMark Financial in the fourth quarter valued at approximately $3,248,000. Finally, Hsbc Holdings PLC bought a new stake in shares of AssetMark Financial in the third quarter valued at approximately $231,000. Hedge funds and other institutional investors own 28.64% of the company’s stock.

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.

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