Millennium Management LLC Boosts Stock Position in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Millennium Management LLC increased its position in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) by 175.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 593,071 shares of the company’s stock after acquiring an additional 378,145 shares during the period. Millennium Management LLC owned about 0.80% of AssetMark Financial worth $20,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMK. Acadian Asset Management LLC lifted 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. Price T Rowe Associates Inc. MD purchased a new stake in AssetMark Financial during the 1st quarter worth approximately $223,000. Horizon Investment Services LLC acquired a new stake in AssetMark Financial during the 1st quarter worth approximately $301,000. ProShare Advisors LLC purchased a new position in AssetMark Financial in the 2nd quarter valued at approximately $351,000. Finally, Principal Financial Group Inc. grew its stake in shares of AssetMark Financial by 45.9% in the first quarter. Principal Financial Group Inc. now owns 12,646 shares of the company’s stock worth $448,000 after acquiring an additional 3,980 shares in the last quarter. 28.64% of the stock is currently owned by hedge funds and other institutional investors.

AssetMark Financial Stock Performance

AssetMark Financial stock opened at $35.24 on Friday. The firm has a market capitalization of $2.62 billion, a P/E ratio of 18.45 and a beta of 1.10. AssetMark Financial Holdings, Inc. has a twelve month low of $22.92 and a twelve month high of $37.54. The stock’s fifty day simple moving average is $35.05 and its 200-day simple moving average is $34.73.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $198.49 million for the quarter, compared to analysts’ expectations of $193.28 million. AssetMark Financial had a return on equity of 13.08% and a net margin of 19.43%. Sell-side analysts predict that AssetMark Financial Holdings, Inc. will post 2.46 earnings per share for the current year.

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.