Zacks: Brokerages Expect AssetMark Financial Holdings, Inc. (NYSE:AMK) Will Post Earnings of $0.31 Per Share

Analysts forecast that AssetMark Financial Holdings, Inc. (NYSE:AMK) will post $0.31 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for AssetMark Financial’s earnings, with the lowest EPS estimate coming in at $0.29 and the highest estimate coming in at $0.34. AssetMark Financial posted earnings per share of $0.24 during the same quarter last year, which indicates a positive year over year growth rate of 29.2%. The firm is expected to report its next earnings results on Tuesday, May 4th.

According to Zacks, analysts expect that AssetMark Financial will report full-year earnings of $1.36 per share for the current year, with EPS estimates ranging from $1.25 to $1.52. For the next fiscal year, analysts forecast that the firm will post earnings of $1.53 per share, with EPS estimates ranging from $1.35 to $1.76. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow AssetMark Financial.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings results on Wednesday, February 10th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.18. The business had revenue of $110.92 million during the quarter, compared to analyst estimates of $112.82 million. AssetMark Financial had a negative net margin of 0.16% and a positive return on equity of 2.84%.

A number of research firms recently commented on AMK. Zacks Investment Research downgraded AssetMark Financial from a “buy” rating to a “hold” rating in a report on Monday, February 8th. Truist began coverage on AssetMark Financial in a report on Friday, December 18th. They issued a “hold” rating and a $27.00 price objective on the stock. Finally, Raymond James increased their price objective on AssetMark Financial from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $27.67.

NYSE:AMK traded down $0.21 during mid-day trading on Friday, reaching $22.32. The stock had a trading volume of 3 shares, compared to its average volume of 109,113. The business’s 50 day moving average is $23.89 and its 200 day moving average is $23.81. AssetMark Financial has a fifty-two week low of $19.87 and a fifty-two week high of $29.45. The stock has a market cap of $1.62 billion, a P/E ratio of -1,125.94 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.14 and a quick ratio of 4.14.

In other news, CFO Gary G. Zyla sold 1,909 shares of the firm’s stock in a transaction on Thursday, January 21st. The shares were sold at an average price of $25.00, for a total value of $47,725.00. Following the sale, the chief financial officer now owns 165,632 shares in the company, valued at $4,140,800. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Carrie E. Hansen sold 16,561 shares of the firm’s stock in a transaction on Thursday, February 4th. The stock was sold at an average price of $24.24, for a total transaction of $401,438.64. Following the completion of the sale, the chief operating officer now owns 214,965 shares in the company, valued at approximately $5,210,751.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 199,675 shares of company stock worth $4,998,596. 7.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in AssetMark Financial by 75.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 70,317 shares of the company’s stock worth $1,702,000 after purchasing an additional 30,140 shares during the period. JPMorgan Chase & Co. lifted its position in AssetMark Financial by 43.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,599,936 shares of the company’s stock worth $62,918,000 after purchasing an additional 792,517 shares during the period. Squarepoint Ops LLC bought a new position in AssetMark Financial in the fourth quarter worth $342,000. Tudor Investment Corp Et Al lifted its holdings in shares of AssetMark Financial by 98.2% during the fourth quarter. Tudor Investment Corp Et Al now owns 18,865 shares of the company’s stock valued at $457,000 after acquiring an additional 9,347 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in shares of AssetMark Financial by 41.7% during the fourth quarter. Nuveen Asset Management LLC now owns 231,516 shares of the company’s stock valued at $5,603,000 after acquiring an additional 68,171 shares during the period. 23.50% of the stock is owned by hedge funds and other institutional investors.

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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