Insider Selling: AssetMark Financial Holdings, Inc. (NYSE:AMK) COO Sells 10,611 Shares of Stock

AssetMark Financial Holdings, Inc. (NYSE:AMKGet Free Report) COO Carrie E. Hansen sold 10,611 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $365,018.40. Following the completion of the sale, the chief operating officer now directly owns 134,582 shares of the company’s stock, valued at approximately $4,629,620.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AssetMark Financial Price Performance

Shares of NYSE:AMK traded down $0.15 during midday trading on Tuesday, hitting $34.11. 1,089,704 shares of the stock were exchanged, compared to its average volume of 346,114. The stock has a market cap of $2.54 billion, a P/E ratio of 17.86 and a beta of 1.10. The company has a current ratio of 4.65, a quick ratio of 4.65 and a debt-to-equity ratio of 0.07. AssetMark Financial Holdings, Inc. has a twelve month low of $22.92 and a twelve month high of $37.54. The company has a 50 day moving average price of $34.46 and a 200-day moving average price of $32.42.

AssetMark Financial (NYSE:AMKGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. The business had revenue of $190.27 million during the quarter, compared to the consensus estimate of $143.91 million. AssetMark Financial had a return on equity of 12.93% and a net margin of 19.92%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. On average, research analysts forecast that AssetMark Financial Holdings, Inc. will post 2.42 earnings per share for the current year.

Institutional Trading of AssetMark Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. grew its holdings in AssetMark Financial by 2.8% in 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 period. Swiss National Bank raised its position in shares of AssetMark Financial by 1.1% during the 3rd quarter. Swiss National Bank now owns 56,900 shares of the company’s stock valued at $1,427,000 after acquiring an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in AssetMark Financial by 13.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,027 shares of the company’s stock worth $240,000 after buying an additional 925 shares during the last quarter. Jump Financial LLC grew its stake in AssetMark Financial by 13.6% during the 4th quarter. Jump Financial LLC now owns 14,894 shares of the company’s stock worth $446,000 after buying an additional 1,783 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of AssetMark Financial by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 171,489 shares of the company’s stock worth $5,136,000 after purchasing an additional 2,152 shares in the last quarter. Hedge funds and other institutional investors own 28.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AMK shares. Raymond James raised their target price on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th. William Blair downgraded AssetMark Financial from an “outperform” rating to a “market perform” rating in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. downgraded 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.

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AssetMark Financial Company Profile

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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.

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