$112.84 Million in Sales Expected for AssetMark Financial Holdings, Inc. (NYSE:AMK) This Quarter

Equities analysts expect AssetMark Financial Holdings, Inc. (NYSE:AMK) to announce sales of $112.84 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for AssetMark Financial’s earnings, with estimates ranging from $112.28 million to $113.28 million. AssetMark Financial posted sales of $111.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The business is expected to announce its next earnings results on Wednesday, February 24th.

According to Zacks, analysts expect that AssetMark Financial will report full year sales of $434.00 million for the current fiscal year, with estimates ranging from $433.10 million to $435.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $489.08 million, with estimates ranging from $479.70 million to $501.75 million. Zacks Investment Research’s sales averages 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 announced its quarterly earnings results on Sunday, November 15th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. AssetMark Financial had a positive return on equity of 2.84% and a negative net margin of 0.16%. The company had revenue of $107.14 million during the quarter, compared to the consensus estimate of $106.13 million.

A number of analysts have weighed in on AMK shares. Raymond James raised their price objective on shares of AssetMark Financial from $31.00 to $32.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Jefferies Financial Group assumed coverage on shares of AssetMark Financial in a research note on Wednesday, September 23rd. They set a “hold” rating and a $24.00 price target on the stock. Truist started coverage on shares of AssetMark Financial in a research note on Friday, December 18th. They issued a “hold” rating and a $27.00 price objective for the company. Finally, Zacks Investment Research upgraded AssetMark Financial from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $27.50.

AMK traded down $0.50 on Wednesday, reaching $23.84. The company’s stock had a trading volume of 72,913 shares, compared to its average volume of 90,864. The stock has a 50 day moving average of $24.28 and a two-hundred day moving average of $24.41. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -1,191.40 and a beta of 1.23. AssetMark Financial has a fifty-two week low of $13.94 and a fifty-two week high of $34.02.

In other news, CFO Gary G. Zyla sold 1,389 shares of the stock in a transaction that occurred on Friday, December 4th. The shares were sold at an average price of $25.01, for a total value of $34,738.89. Following the sale, the chief financial officer now directly owns 187,108 shares in the company, valued at $4,679,571.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeremiah H. Chafkin sold 7,933 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $23.00, for a total value of $182,459.00. Following the transaction, the executive vice president now directly owns 485,714 shares of the company’s stock, valued at approximately $11,171,422. The disclosure for this sale can be found here. Insiders have sold a total of 186,892 shares of company stock worth $4,526,494 over the last three months. 7.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AMK. Azora Capital LP acquired a new position in AssetMark Financial in the 3rd quarter valued at $10,074,000. Jane Street Group LLC purchased a new stake in shares of AssetMark Financial in the third quarter valued at about $876,000. Point72 Asset Management L.P. purchased a new stake in shares of AssetMark Financial in the third quarter valued at about $335,000. Morgan Stanley raised its holdings in shares of AssetMark Financial by 3.0% in the third quarter. Morgan Stanley now owns 26,094 shares of the company’s stock valued at $567,000 after purchasing an additional 759 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of AssetMark Financial by 19.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,540 shares of the company’s stock valued at $2,360,000 after purchasing an additional 17,341 shares during the last quarter. Hedge funds and other institutional investors own 23.50% of the company’s stock.

AssetMark Financial Company Profile

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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