Insider Selling: AssetMark Financial Holdings, Inc. (NYSE:AMK) Vice Chairman Sells 34,654 Shares of Stock

AssetMark Financial Holdings, Inc. (NYSE:AMK) Vice Chairman Jeremiah H. Chafkin sold 34,654 shares of the firm’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $26.08, for a total value of $903,776.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of NYSE AMK traded down $0.16 during trading hours on Tuesday, hitting $26.09. 168,340 shares of the company’s stock were exchanged, compared to its average volume of 97,096. AssetMark Financial Holdings, Inc. has a 1-year low of $20.88 and a 1-year high of $27.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.88 and a quick ratio of 5.88. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -1,303.85 and a beta of 1.15. The company’s 50-day moving average price is $25.93 and its 200-day moving average price is $24.80.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings results on Tuesday, July 27th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. AssetMark Financial had a positive return on equity of 3.47% and a negative net margin of 0.04%. On average, research analysts expect that AssetMark Financial Holdings, Inc. will post 0.89 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. grew its stake in shares of AssetMark Financial by 56.8% in the 2nd quarter. Citigroup Inc. now owns 1,995 shares of the company’s stock valued at $50,000 after purchasing an additional 723 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of AssetMark Financial by 93,620.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,686 shares of the company’s stock valued at $117,000 after purchasing an additional 4,681 shares during the period. WINTON GROUP Ltd bought a new stake in shares of AssetMark Financial in the 2nd quarter valued at approximately $204,000. Parametric Portfolio Associates LLC bought a new stake in shares of AssetMark Financial in the 2nd quarter valued at approximately $229,000. Finally, Aigen Investment Management LP bought a new stake in shares of AssetMark Financial in the 1st quarter valued at approximately $230,000. Hedge funds and other institutional investors own 25.85% of the company’s stock.

Several analysts recently issued reports on the company. Raymond James raised their price target on AssetMark Financial from $38.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 29th. Zacks Investment Research downgraded AssetMark Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 4th. Finally, TheStreet raised AssetMark Financial from a “c” rating to a “b-” rating in a research note on Monday, July 19th. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $30.25.

About AssetMark Financial

AssetMark Financial Holdings, Inc provides wealth management and technology solutions. It also provides end-to-end experience, spanning nearly all elements of an adviser’s engagement with client, from initial conversations to ongoing financial planning discussions, including performance reporting and billing.

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