Glazer Capital LLC Buys Shares of 1,739,617 AssetMark Financial Holdings, Inc. (NYSE:AMK)

Glazer Capital LLC bought a new stake in AssetMark Financial Holdings, Inc. (NYSE:AMK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,739,617 shares of the company’s stock, valued at approximately $60,104,000. AssetMark Financial makes up approximately 4.7% of Glazer Capital LLC’s investment portfolio, making the stock its 6th largest position. Glazer Capital LLC owned approximately 2.34% of AssetMark Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMK. Acadian Asset Management LLC increased its stake in AssetMark Financial by 6,360.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,584 shares of the company’s stock valued at $91,000 after buying an additional 2,544 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of AssetMark Financial during the first quarter worth $223,000. Dynamic Technology Lab Private Ltd purchased a new position in AssetMark Financial in the fourth quarter valued at about $230,000. Horizon Investment Services LLC purchased a new stake in shares of AssetMark Financial during the 1st quarter worth about $301,000. Finally, Trexquant Investment LP acquired a new stake in shares of AssetMark Financial during the 4th quarter valued at about $329,000. Hedge funds and other institutional investors own 28.64% of the company’s stock.

AssetMark Financial Stock Performance

NYSE:AMK opened at $35.24 on Tuesday. The company has a market capitalization of $2.62 billion, a P/E ratio of 18.45 and a beta of 1.10. The stock’s 50 day moving average price is $34.91 and its 200 day moving average price is $34.75. AssetMark Financial Holdings, Inc. has a 52 week low of $22.92 and a 52 week high of $37.54.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings results on Thursday, July 18th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). AssetMark Financial had a net margin of 19.43% and a return on equity of 13.08%. The business had revenue of $198.49 million for the quarter, compared to the consensus estimate of $193.28 million. As a group, sell-side analysts forecast that AssetMark Financial Holdings, Inc. will post 2.46 earnings per share for the current fiscal year.

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.