AssetMark Financial (NYSE:AMK) Sees Large Volume Increase

AssetMark Financial Holdings, Inc. (NYSE:AMK) shares saw unusually-strong trading volume on Thursday . Approximately 747,988 shares changed hands during mid-day trading, an increase of 268% from the previous session’s volume of 203,240 shares.The stock last traded at $34.02 and had previously closed at $34.90.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMK. William Blair downgraded AssetMark Financial from an “outperform” rating to a “market perform” rating in a report on Thursday. Raymond James increased 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 report on Thursday, April 11th.

AssetMark Financial Stock Down 2.9 %

The company has a market capitalization of $2.52 billion, a PE ratio of 20.73 and a beta of 1.11. The stock has a 50-day moving average of $35.01 and a 200 day moving average of $30.11. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.07.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $158.18 million during the quarter, compared to analyst estimates of $188.88 million. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. Sell-side analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current year.

Hedge Funds Weigh In On AssetMark Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMK. Lmcg Investments LLC acquired a new position in AssetMark Financial in the 3rd quarter valued at about $915,000. SG Americas Securities LLC acquired a new position in shares of AssetMark Financial in the fourth quarter valued at $169,000. Phocas Financial Corp. acquired a new stake in shares of AssetMark Financial during the 4th quarter valued at about $3,248,000. Jennison Associates LLC lifted its position in shares of AssetMark Financial by 7.8% during the 4th quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock worth $55,509,000 after buying an additional 133,576 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of AssetMark Financial during the 3rd quarter worth about $231,000. Hedge funds and other institutional investors own 28.64% of the company’s stock.

About AssetMark Financial

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.