AssetMark Financial Holdings, Inc. (NYSE:AMK) Short Interest Up 54.4% in May

AssetMark Financial Holdings, Inc. (NYSE:AMK) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 428,800 shares, a growth of 54.4% from the May 15th total of 277,700 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 477,300 shares, the short-interest ratio is presently 0.9 days.

AssetMark Financial Price Performance

AMK stock opened at $34.23 on Friday. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.55 billion, a PE ratio of 17.92 and a beta of 1.10. AssetMark Financial has a 12-month low of $22.92 and a 12-month high of $37.54. The business’s fifty day moving average price is $34.46 and its 200 day moving average price is $32.55.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $190.27 million for the quarter, compared to the consensus estimate of $143.91 million. AssetMark Financial had a return on equity of 12.93% and a net margin of 19.92%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, sell-side analysts anticipate that AssetMark Financial will post 2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other AssetMark Financial news, insider Esi Minta-Jacobs sold 2,529 shares of the business’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 $86,997.60. Following the transaction, the insider now owns 66,766 shares of the company’s stock, valued at $2,296,750.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AssetMark Financial news, insider Esi Minta-Jacobs sold 2,529 shares of the business’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 $86,997.60. Following the transaction, the insider now owns 66,766 shares of the company’s stock, valued at $2,296,750.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mukesh Mehta sold 8,880 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $305,472.00. Following the completion of the transaction, the executive vice president now directly owns 304,791 shares in the company, valued at approximately $10,484,810.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,251 shares of company stock valued at $1,350,234. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On AssetMark Financial

Several large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD purchased a new stake in AssetMark Financial during the 1st quarter worth about $223,000. Quadrature Capital Ltd increased its holdings in AssetMark Financial by 57.3% during the 1st quarter. Quadrature Capital Ltd now owns 12,790 shares of the company’s stock worth $452,000 after purchasing an additional 4,660 shares during the period. Acadian Asset Management LLC increased its holdings in AssetMark Financial by 6,360.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,584 shares of the company’s stock worth $91,000 after purchasing an additional 2,544 shares during the period. Vanguard Group Inc. increased its holdings in AssetMark Financial by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,140,031 shares of the company’s stock worth $75,778,000 after purchasing an additional 23,509 shares during the period. Finally, Blair William & Co. IL increased its holdings in AssetMark Financial by 3.6% during the 1st quarter. Blair William & Co. IL now owns 334,035 shares of the company’s stock worth $11,828,000 after purchasing an additional 11,541 shares during the period. 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.