Hsbc Holdings PLC Buys 187,208 Shares of AssetMark Financial Holdings, Inc. (NYSE:AMK)

Hsbc Holdings PLC boosted its position in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) by 2,528.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 194,611 shares of the company’s stock after acquiring an additional 187,208 shares during the period. Hsbc Holdings PLC owned 0.26% of AssetMark Financial worth $6,712,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AMK. Wolverine Asset Management LLC bought a new position in shares of AssetMark Financial in the second quarter worth about $1,791,000. Hodges Capital Management Inc. bought a new position in AssetMark Financial in the 1st quarter worth approximately $2,124,000. Azora Capital LP grew its holdings in AssetMark Financial by 32.8% during the 4th quarter. Azora Capital LP now owns 465,355 shares of the company’s stock valued at $13,937,000 after buying an additional 114,965 shares in the last quarter. Vanguard Group Inc. raised its position in shares of AssetMark Financial by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,140,031 shares of the company’s stock valued at $75,778,000 after buying an additional 23,509 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of AssetMark Financial by 1,614.0% in the second quarter. SG Americas Securities LLC now owns 84,035 shares of the company’s stock worth $2,903,000 after buying an additional 79,132 shares in the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

AssetMark Financial Stock Performance

AMK opened at $35.24 on Tuesday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 18.45 and a beta of 1.10. The company has a fifty day moving average of $34.91 and a 200 day moving average of $34.75. AssetMark Financial Holdings, Inc. has a fifty-two week low of $22.92 and a fifty-two week high of $37.54.

AssetMark Financial (NYSE:AMK) last issued its earnings results on Thursday, July 18th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). AssetMark Financial had a return on equity of 13.08% and a net margin of 19.43%. The firm had revenue of $198.49 million during the quarter, compared to the consensus estimate of $193.28 million. On average, equities research analysts forecast 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.