Insider Selling: AssetMark Financial Holdings, Inc. (NYSE:AMK) CEO Sells $324,908.00 in Stock

AssetMark Financial Holdings, Inc. (NYSE:AMKGet Free Report) CEO Michael Kim sold 9,445 shares of AssetMark Financial stock in a transaction on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $324,908.00. Following the completion of the sale, the chief executive officer now directly owns 355,332 shares of the company’s stock, valued at approximately $12,223,420.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AssetMark Financial Stock Performance

NYSE AMK opened at $34.22 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.65 and a quick ratio of 4.65. AssetMark Financial Holdings, Inc. has a 1-year low of $22.92 and a 1-year high of $37.54. The firm has a market capitalization of $2.55 billion, a P/E ratio of 17.92 and a beta of 1.10. The business’s 50-day simple moving average is $34.46 and its 200-day simple moving average is $32.44.

AssetMark Financial (NYSE:AMKGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60. AssetMark Financial had a net margin of 19.92% and a return on equity of 12.93%. The firm had revenue of $190.27 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same period in the previous year, the company posted $0.53 earnings per share. AssetMark Financial’s revenue was up 11.7% compared to the same quarter last year. Equities analysts predict that AssetMark Financial Holdings, Inc. will post 2.42 EPS for the current year.

Hedge Funds Weigh In On AssetMark Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in AssetMark Financial in the third quarter valued at about $81,000. Acadian Asset Management LLC grew its stake in shares of AssetMark Financial by 6,360.0% in the first quarter. Acadian Asset Management LLC now owns 2,584 shares of the company’s stock valued at $91,000 after buying an additional 2,544 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of AssetMark Financial during the 4th quarter valued at about $169,000. Arizona State Retirement System acquired a new position in AssetMark Financial during the 4th quarter worth approximately $218,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in AssetMark Financial in the 1st quarter worth approximately $223,000. Institutional investors and hedge funds own 28.64% of the company’s stock.

Analyst Upgrades and Downgrades

AMK has been the topic of a number of research analyst reports. William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Raymond James increased their price target on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. lowered shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, April 26th.

Check Out Our Latest Research Report on AMK

About AssetMark Financial

(Get Free Report)

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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