AssetMark Financial Holdings, Inc. (NYSE:AMK) Short Interest Up 80.7% in June

AssetMark Financial Holdings, Inc. (NYSE:AMK) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 775,000 shares, a growth of 80.7% from the May 31st total of 428,800 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average daily volume of 526,400 shares, the short-interest ratio is presently 1.5 days.

Insider Activity

In other AssetMark Financial news, insider Esi Minta-Jacobs sold 2,529 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $34.40, for a total transaction of $86,997.60. Following the sale, the insider now directly owns 66,766 shares in the company, valued at approximately $2,296,750.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Esi Minta-Jacobs sold 2,529 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $34.40, for a total value of $86,997.60. Following the sale, the insider now owns 66,766 shares of the company’s stock, valued at approximately $2,296,750.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Carrie E. Hansen sold 10,611 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $34.40, for a total value of $365,018.40. Following the completion of the sale, the chief operating officer now owns 134,582 shares of the company’s stock, valued at approximately $4,629,620.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,251 shares of company stock valued at $1,350,234. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On AssetMark Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AMK. Jennison Associates LLC lifted its position in shares of AssetMark Financial by 7.8% in the 4th quarter. Jennison Associates LLC now owns 1,853,384 shares of the company’s stock worth $55,509,000 after acquiring an additional 133,576 shares during the period. Azora Capital LP lifted its position in AssetMark Financial by 32.8% in the fourth 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 during the period. Phocas Financial Corp. acquired a new stake in AssetMark Financial during the fourth quarter worth $3,248,000. Adage Capital Partners GP L.L.C. increased its holdings in AssetMark Financial by 14.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 787,960 shares of the company’s stock valued at $19,762,000 after buying an additional 101,707 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of AssetMark Financial by 11.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 943,396 shares of the company’s stock valued at $28,257,000 after buying an additional 98,444 shares in the last quarter. Institutional investors own 28.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMK. William Blair lowered shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. downgraded shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, April 26th. Finally, Raymond James raised their price objective on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 11th.

AssetMark Financial Stock Up 0.1 %

Shares of NYSE:AMK traded up $0.05 on Friday, reaching $34.55. The company had a trading volume of 1,019,178 shares, compared to its average volume of 433,305. The stock has a market capitalization of $2.57 billion, a P/E ratio of 18.09 and a beta of 1.10. The stock has a 50-day moving average price of $34.18 and a 200 day moving average price of $33.11. AssetMark Financial has a twelve month low of $22.92 and a twelve month high of $37.54. The company has a quick ratio of 4.65, a current ratio of 4.65 and a debt-to-equity ratio of 0.07.

AssetMark Financial (NYSE:AMK) last posted its earnings results on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.60. The business had revenue of $190.27 million for the quarter, compared to analyst estimates of $143.91 million. AssetMark Financial had a net margin of 19.92% and a return on equity of 12.93%. AssetMark Financial’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. On average, equities analysts expect that AssetMark Financial will post 2.44 EPS for the current year.

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.