AssetMark Financial (NYSE:AMK) Sees Unusually-High Trading Volume

Shares of AssetMark Financial Holdings, Inc. (NYSE:AMK) saw an uptick in trading volume on Thursday . 747,988 shares changed hands during trading, an increase of 268% from the previous session’s volume of 203,240 shares.The stock last traded at $34.02 and had previously closed at $34.90.

Analysts Set New Price Targets

AMK has been the subject of several recent analyst reports. William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. lowered AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday. Finally, Raymond James boosted their target price on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th.

AssetMark Financial Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The stock has a market cap of $2.52 billion, a PE ratio of 20.69 and a beta of 1.11. The business has a fifty day moving average of $35.05 and a 200-day moving average of $30.13.

AssetMark Financial (NYSE:AMK) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $158.18 million during the quarter, compared to analyst estimates of $188.88 million. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. Equities research analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.46 earnings per share for the current year.

Institutional Trading of AssetMark Financial

A number of large investors have recently modified their holdings of AMK. Quantbot Technologies LP purchased a new stake in shares of AssetMark Financial in the third quarter valued at approximately $81,000. SG Americas Securities LLC purchased a new stake in AssetMark Financial during the fourth quarter worth $169,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in AssetMark Financial by 40.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after buying an additional 2,059 shares during the period. Arizona State Retirement System purchased a new stake in AssetMark Financial during the fourth quarter worth $218,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in AssetMark Financial during the fourth quarter worth $230,000. Hedge funds and other institutional investors own 28.64% of the company’s stock.

AssetMark Financial Company Profile

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.