Hodges Capital Management Inc. Buys Shares of 60,000 AssetMark Financial Holdings, Inc. (NYSE:AMK)

Hodges Capital Management Inc. bought a new stake in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 60,000 shares of the company’s stock, valued at approximately $2,124,000. Hodges Capital Management Inc. owned approximately 0.08% of AssetMark Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of AMK. Federated Hermes Inc. lifted its holdings in shares of AssetMark Financial by 2.8% during the 4th quarter. Federated Hermes Inc. now owns 13,975 shares of the company’s stock valued at $419,000 after buying an additional 385 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of AssetMark Financial by 13.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,027 shares of the company’s stock valued at $240,000 after buying an additional 925 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of AssetMark Financial by 13.6% during the 4th quarter. Jump Financial LLC now owns 14,894 shares of the company’s stock valued at $446,000 after buying an additional 1,783 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of AssetMark Financial by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 171,489 shares of the company’s stock valued at $5,136,000 after buying an additional 2,152 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its holdings in shares of AssetMark Financial by 46.6% during the 3rd quarter. Quadrature Capital Ltd now owns 10,579 shares of the company’s stock valued at $265,000 after buying an additional 3,361 shares during the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

Analyst Ratings Changes

AMK has been the subject of several research reports. Raymond James lifted their price target on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. lowered AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, April 26th. Finally, William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, April 25th.

AssetMark Financial Stock Up 0.1 %

AMK opened at $34.55 on Friday. The business has a 50 day moving average price of $34.18 and a 200 day moving average price of $33.11. AssetMark Financial Holdings, Inc. has a twelve month low of $22.92 and a twelve month high of $37.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.65 and a current ratio of 4.65. The firm has a market cap of $2.57 billion, a P/E ratio of 18.09 and a beta of 1.10.

AssetMark Financial (NYSE:AMK) last issued 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 return on equity of 12.93% and a net margin of 19.92%. The company had revenue of $190.27 million during the quarter, compared to analyst estimates of $143.91 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts forecast that AssetMark Financial Holdings, Inc. will post 2.44 EPS for the current year.

Insider Transactions at AssetMark Financial

In other news, insider Esi Minta-Jacobs sold 2,529 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 66,766 shares in the company, valued at $2,296,750.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Carrie E. Hansen sold 10,611 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $34.40, for a total transaction of $365,018.40. Following the sale, the chief operating officer now directly owns 134,582 shares in the company, valued at $4,629,620.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Esi Minta-Jacobs sold 2,529 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $86,997.60. Following the sale, the insider now owns 66,766 shares in the company, valued at $2,296,750.40. The disclosure for this sale can be found here. Insiders sold a total of 39,251 shares of company stock worth $1,350,234 over the last three months. 2.00% of the stock is currently owned by insiders.

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.