Renaissance Technologies LLC Purchases 172,900 Shares of AssetMark Financial Holdings, Inc. (NYSE:AMK)

Renaissance Technologies LLC raised its position in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) by 133.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 302,100 shares of the company’s stock after acquiring an additional 172,900 shares during the period. Renaissance Technologies LLC owned approximately 0.41% of AssetMark Financial worth $10,438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its stake 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 valued at $91,000 after purchasing an additional 2,544 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in AssetMark Financial in the 1st quarter valued at approximately $223,000. Dynamic Technology Lab Private Ltd acquired a new stake in AssetMark Financial in the 4th quarter valued at approximately $230,000. Horizon Investment Services LLC acquired a new stake in AssetMark Financial in the 1st quarter valued at approximately $301,000. Finally, Trexquant Investment LP acquired a new stake in AssetMark Financial in the 4th quarter valued at approximately $329,000. 28.64% of the stock is owned by institutional investors and hedge funds.

AssetMark Financial Price Performance

AMK opened at $35.24 on Tuesday. The firm 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 two-hundred day moving average price is $34.75. AssetMark Financial Holdings, Inc. has a 12-month low of $22.92 and a 12-month high of $37.54.

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