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

AssetMark Financial Holdings, Inc. (NYSE:AMK) shares saw unusually-strong trading volume on Wednesday . Approximately 262,021 shares changed hands during trading, an increase of 42% from the previous session’s volume of 184,145 shares.The stock last traded at $36.71 and had previously closed at $37.06.

Analyst Ratings Changes

Separately, Raymond James upped their price target on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday.

AssetMark Financial Stock Up 2.1 %

The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.45 and a beta of 1.11. The stock has a fifty day moving average of $34.32 and a two-hundred day moving average of $29.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. The firm had revenue of $158.18 million during the quarter, compared to the consensus estimate of $188.88 million. Sell-side analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.42 earnings per share for the current year.

Institutional Trading of AssetMark Financial

A number of large investors have recently bought and sold shares of AMK. Jennison Associates LLC grew its holdings in AssetMark Financial by 12.5% during the 3rd quarter. Jennison Associates LLC now owns 1,719,808 shares of the company’s stock worth $43,133,000 after acquiring an additional 191,481 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of AssetMark Financial by 47.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 585,865 shares of the company’s stock worth $18,423,000 after purchasing an additional 189,590 shares in the last quarter. Azora Capital LP boosted its position in shares of AssetMark Financial by 32.8% during the 4th quarter. Azora Capital LP now owns 465,355 shares of the company’s stock worth $13,937,000 after purchasing an additional 114,965 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of AssetMark Financial during the 4th quarter worth about $3,248,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of AssetMark Financial by 4.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,346,527 shares of the company’s stock worth $44,044,000 after purchasing an additional 105,988 shares in the last quarter. 28.64% of the stock is currently owned by institutional investors and hedge funds.

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.