William Blair Downgrades AssetMark Financial (NYSE:AMK) to Market Perform

AssetMark Financial (NYSE:AMK) was downgraded by stock analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, Marketbeat reports.

Separately, Raymond James boosted their price target on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th.

AssetMark Financial Stock Performance

AMK opened at $33.93 on Thursday. AssetMark Financial has a 52-week low of $22.92 and a 52-week high of $37.54. The firm has a market capitalization of $2.52 billion, a PE ratio of 20.69 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.84 and a current ratio of 3.84. The business’s 50-day simple moving average is $35.05 and its 200 day simple moving average is $30.13.

AssetMark Financial (NYSE:AMK) last released its earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $158.18 million for the quarter, compared to analyst estimates of $188.88 million. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. As a group, sell-side analysts expect that AssetMark Financial will post 2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AssetMark Financial

Several institutional investors and hedge funds have recently made changes to their positions in AMK. Quantbot Technologies LP acquired a new position in shares of AssetMark Financial in the third quarter valued at approximately $81,000. SG Americas Securities LLC acquired a new position in shares of AssetMark Financial in the fourth quarter valued at approximately $169,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of AssetMark Financial by 40.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock valued at $178,000 after purchasing an additional 2,059 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of AssetMark Financial in the fourth quarter valued at approximately $218,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of AssetMark Financial in the fourth quarter valued at approximately $230,000. Institutional investors and hedge funds 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.