Brokerages Anticipate AssetMark Financial Holdings (NYSE:AMK) Will Announce Quarterly Sales of $99.50 Million

Wall Street analysts expect AssetMark Financial Holdings (NYSE:AMK) to report $99.50 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for AssetMark Financial’s earnings. The highest sales estimate is $100.00 million and the lowest is $99.00 million. AssetMark Financial reported sales of $104.48 million in the same quarter last year, which suggests a negative year over year growth rate of 4.8%. The firm is scheduled to report its next earnings report after the market closes on Tuesday, August 4th.

According to Zacks, analysts expect that AssetMark Financial will report full-year sales of $434.95 million for the current fiscal year, with estimates ranging from $431.90 million to $438.00 million. For the next financial year, analysts anticipate that the business will report sales of $470.60 million, with estimates ranging from $470.00 million to $471.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for AssetMark Financial.

AssetMark Financial (NYSE:AMK) last posted its earnings results on Tuesday, May 5th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.10. AssetMark Financial had a negative net margin of 0.11% and a positive return on equity of 4.15%. The firm had revenue of $114.89 million during the quarter, compared to the consensus estimate of $115.55 million.

A number of research analysts have commented on the stock. Raymond James lifted their price objective on shares of AssetMark Financial from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Credit Suisse Group lowered their price target on shares of AssetMark Financial from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Wednesday, May 6th. Finally, Zacks Investment Research cut shares of AssetMark Financial from a “buy” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.67.

In other news, CEO Charles G. Goldman sold 48,322 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $22.80, for a total value of $1,101,741.60. Following the sale, the chief executive officer now owns 2,166,071 shares in the company, valued at approximately $49,386,418.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ted F. Angus sold 9,447 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $27.16, for a total transaction of $256,580.52. Following the completion of the sale, the executive vice president now owns 168,055 shares in the company, valued at approximately $4,564,373.80. The disclosure for this sale can be found here. Insiders have sold 483,712 shares of company stock worth $12,261,069 in the last ninety days. 7.30% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new position in AssetMark Financial during the 4th quarter worth about $25,000. Citigroup Inc. lifted its position in AssetMark Financial by 457.5% during the 4th quarter. Citigroup Inc. now owns 2,810 shares of the company’s stock worth $82,000 after buying an additional 2,306 shares in the last quarter. Legal & General Group Plc lifted its position in AssetMark Financial by 40.7% during the 1st quarter. Legal & General Group Plc now owns 3,460 shares of the company’s stock worth $70,000 after buying an additional 1,000 shares in the last quarter. Victory Capital Management Inc. acquired a new position in AssetMark Financial during the 4th quarter valued at about $152,000. Finally, SG Americas Securities LLC acquired a new position in AssetMark Financial during the 1st quarter valued at about $110,000. Institutional investors own 22.05% of the company’s stock.

AMK traded up $0.05 on Tuesday, reaching $27.85. The company had a trading volume of 215,736 shares, compared to its average volume of 80,392. AssetMark Financial has a 1 year low of $13.94 and a 1 year high of $34.02. The stock has a market capitalization of $2.02 billion and a PE ratio of 51.57. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $27.29 and a 200-day moving average price of $25.93.

About AssetMark Financial

AssetMark Financial Holdings, Inc provides wealth management and technology solutions in the United States. The company offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology to the financial adviser channel.

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Earnings History and Estimates for AssetMark Financial (NYSE:AMK)

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