The stock of AssetMark Financial Holdings Inc. (NYSE:AMK) last traded at $25.80, up 0.58% from the previous session.
Data from the available sources indicates that AssetMark Financial Holdings Inc. (NYSE:AMK) is covered by 7 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $23.00, we find $29.50. Given the previous closing price of $25.65, this indicates a potential upside of 15.01 percent. AMK stock price is now 7.75% away from the 50-day moving average and 24.61% away from the 200-day moving average. The market capitalization of the company currently stands at $1.86B.
In total, 2 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $28.17 as their price target over the next twelve months.
With the price target enhanced from $24 to $32, JP Morgan Upgraded its rating from Neutral to Overweight for AssetMark Financial Holdings Inc. (NYSE: AMK)., while ‘Raymond James’ rates the stock as ‘Strong Buy’.
In other news, Angus Ted F., EVP, General Counsel sold 877 shares of the company’s stock on Jun 10. The stock was sold for $16,716 at an average price of $19.06. Upon completion of the transaction, the EVP, General Counsel now directly owns 102,627 shares in the company, valued at $2.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 10, EVP, Chief Operating Officer Hansen Carrie E. sold 877 shares of the business’s stock. A total of $16,716 was realized by selling the stock at an average price of $19.06. This leaves the insider owning 122,973 shares of the company worth $3.17 million. Insiders disposed of 28,080 shares of company stock worth roughly $0.72 million over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in AMK stock. A new stake in AssetMark Financial Holdings Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $60,077,000. INVENOMIC CAPITAL MANAGEMENT LP invested $9,579,000 in shares of AMK during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT LLC acquired a new stake in AssetMark Financial Holdings Inc. valued at approximately $2,478,000. INTRINSIC EDGE CAPITAL MANAGEMENT LLC acquired a new stake in AMK for approximately $1,775,000. NEWEDGE ADVISORS, LLC purchased a new stake in AMK valued at around $1,054,000 in the second quarter. In total, there are 150 active investors with 27.10% ownership of the company’s stock.
With an opening price of $25.42 on Tuesday morning, AssetMark Financial Holdings Inc. (NYSE: AMK) set off the trading day. During the past 12 months, AssetMark Financial Holdings Inc. has had a low of $16.88 and a high of $26.70. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 3.70, and a quick ratio of 3.70. The fifty day moving average price for AMK is $23.94 and a two-hundred day moving average price translates $20.70 for the stock.
The latest earnings results from AssetMark Financial Holdings Inc. (NYSE: AMK) was released for Jun, 2022. According to the Asset Management Company, earnings per share came in at $0.44, beating analysts’ expectations of $0.4 by 0.04. This compares to $0.17 EPS in the same period last year. The net profit margin was 15.10% and return on equity was 8.60% for AMK. The company reported revenue of $154.66 million for the quarter, compared to $139.67 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.74 percent. For the current quarter, analysts expect AMK to generate $133.01M in revenue.
AssetMark Financial Holdings Inc.(AMK) Company Profile
AssetMark Financial Holdings, Inc. provides wealth management and technology solutions 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 to the financial adviser channel. The company provides integrated technology platform for advisers for accessing a range of automated processes, including new account opening, portfolio construction, streamlined financial planning, customer billing, investor reporting, progress to goal analysis, and client activity tracking; advisory services; and curated investment platform. It also offers SaaS-based financial planning, wellness, and client digital engagement solutions. The company also offers mutual funds; custodial recordkeeping services primarily to investor clients of registered investment advisers; and wealth management services for individual investors. It serves independent advisers who provide wealth management advice to the U.S. investors and advisers. The company was founded in 1996 and is headquartered in Concord, California. AssetMark Financial Holdings, Inc. operates as a subsidiary of Huatai International Investment Holdings Limited.