Mukesh Mehta Sells 8,880 Shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) Stock

AssetMark Financial Holdings, Inc. (NYSE:AMK) EVP Mukesh Mehta sold 8,880 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $34.40, for a total transaction of $305,472.00. Following the sale, the executive vice president now directly owns 304,791 shares in the company, valued at $10,484,810.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

AssetMark Financial Price Performance

AMK opened at $34.40 on Thursday. The company has a fifty day moving average price of $34.47 and a two-hundred day moving average price of $32.43. The firm has a market capitalization of $2.56 billion, a PE ratio of 18.01 and a beta of 1.10. AssetMark Financial Holdings, Inc. has a 52 week low of $22.92 and a 52 week high of $37.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.65 and a current ratio of 4.65.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on AMK shares. JPMorgan Chase & Co. downgraded AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, April 26th. William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Finally, Raymond James lifted their price objective 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.

Hedge Funds Weigh In On AssetMark Financial

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of AssetMark Financial in the 1st quarter valued at approximately $223,000. Quadrature Capital Ltd raised its holdings in AssetMark Financial by 57.3% in the first quarter. Quadrature Capital Ltd now owns 12,790 shares of the company’s stock worth $452,000 after purchasing an additional 4,660 shares during the period. Acadian Asset Management LLC boosted its position in shares of AssetMark Financial by 6,360.0% during the first quarter. Acadian Asset Management LLC now owns 2,584 shares of the company’s stock worth $91,000 after purchasing an additional 2,544 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of AssetMark Financial by 1.1% in the 1st 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 period. Finally, Blair William & Co. IL increased its position in shares of AssetMark Financial by 3.6% in the 1st quarter. Blair William & Co. IL now owns 334,035 shares of the company’s stock valued at $11,828,000 after buying an additional 11,541 shares in the last quarter. 28.64% of the stock is currently owned by institutional investors and hedge funds.

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.