Insider Selling: AssetMark Financial Holdings, Inc. (NYSE:AMK) COO Sells 877 Shares of Stock
AssetMark Financial Holdings, Inc. (NYSE:AMK – Get Rating) COO Carrie E. Hansen sold 877 shares of the firm’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $19.06, for a total value of $16,715.62. Following the completion of the sale, the chief operating officer now owns 122,973 shares of the company’s stock, valued at $2,343,865.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
AssetMark Financial stock traded down $0.52 during mid-day trading on Friday, hitting $19.26. The stock had a trading volume of 112,194 shares, compared to its average volume of 77,785. The stock has a 50-day simple moving average of $20.31 and a two-hundred day simple moving average of $22.86. The stock has a market capitalization of $1.42 billion, a PE ratio of 24.69 and a beta of 1.10. AssetMark Financial Holdings, Inc. has a 12 month low of $17.92 and a 12 month high of $29.54. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 0.11.
AssetMark Financial (NYSE:AMK – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.44). AssetMark Financial had a net margin of 10.15% and a return on equity of 5.33%. The firm had revenue of $148.30 million during the quarter, compared to the consensus estimate of $108.17 million. During the same quarter in the prior year, the business earned ($0.07) EPS. AssetMark Financial’s revenue was up 24.6% on a year-over-year basis. Sell-side analysts expect that AssetMark Financial Holdings, Inc. will post 1.54 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of AMK. Point72 Hong Kong Ltd bought a new position in AssetMark Financial during the third quarter worth about $29,000. Altshuler Shaham Ltd bought a new position in AssetMark Financial during the third quarter worth about $35,000. Royal Bank of Canada lifted its holdings in shares of AssetMark Financial by 86.5% during the 3rd quarter. Royal Bank of Canada now owns 2,290 shares of the company’s stock valued at $57,000 after purchasing an additional 1,062 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of AssetMark Financial by 19.8% during the 3rd quarter. Citigroup Inc. now owns 2,391 shares of the company’s stock valued at $59,000 after purchasing an additional 396 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of AssetMark Financial during the 1st quarter valued at about $140,000. Hedge funds and other institutional investors own 26.10% of the company’s stock.
A number of analysts have recently weighed in on AMK shares. BMO Capital Markets lowered their target price on AssetMark Financial from $32.00 to $27.00 in a research note on Monday, May 2nd. Raymond James decreased their price target on AssetMark Financial from $45.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 12th. Finally, Zacks Investment Research upgraded AssetMark Financial from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Monday, February 21st.
AssetMark Financial Company Profile (Get Rating)
AssetMark Financial Holdings, Inc provides wealth management and technology solutions 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 to the financial adviser channel. The company provides integrated technology platform for advisers for accessing a range of automated processes, including new account opening, portfolio construction, streamlined financial planning, customer billing, investor reporting, progress to goal analysis, and client activity tracking; advisory services; and curated investment platform.
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