AssetMark Financial Holdings, Inc. (NYSE:AMK – Get Rating) traded down 2.8% on Tuesday after an insider sold shares in the company. The company traded as low as $28.11 and last traded at $28.12. 48,775 shares were traded during trading, a decline of 62% from the average session volume of 129,504 shares. The stock had previously closed at $28.92.
Specifically, CFO Gary G. Zyla sold 8,958 shares of AssetMark Financial stock in a transaction on Monday, May 8th. The stock was sold at an average price of $26.83, for a total value of $240,343.14. Following the transaction, the chief financial officer now directly owns 89,597 shares in the company, valued at approximately $2,403,887.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Gary G. Zyla sold 8,958 shares of AssetMark Financial stock in a transaction on Monday, May 8th. The stock was sold at an average price of $26.83, for a total value of $240,343.14. Following the transaction, the chief financial officer now directly owns 89,597 shares in the company, valued at approximately $2,403,887.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joel David Mcnatt, Jr. sold 1,456 shares of AssetMark Financial stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $30.04, for a total value of $43,738.24. Following the completion of the transaction, the executive vice president now owns 60,619 shares in the company, valued at $1,820,994.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,389 shares of company stock valued at $933,020. Corporate insiders own 2.30% of the company’s stock.
Analyst Upgrades and Downgrades
AMK has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on AssetMark Financial from $31.00 to $30.00 in a report on Monday, June 5th. Credit Suisse Group lifted their price target on AssetMark Financial from $23.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Finally, Raymond James lifted their price target on AssetMark Financial from $32.00 to $37.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 11th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.75.
AssetMark Financial Stock Down 2.4 %
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in AssetMark Financial in the first quarter valued at about $27,000. Signaturefd LLC grew its stake in AssetMark Financial by 82.3% in the fourth quarter. Signaturefd LLC now owns 1,415 shares of the company’s stock valued at $33,000 after purchasing an additional 639 shares in the last quarter. Citigroup Inc. grew its stake in AssetMark Financial by 70.8% in the first quarter. Citigroup Inc. now owns 1,192 shares of the company’s stock valued at $37,000 after purchasing an additional 494 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in AssetMark Financial in the first quarter valued at about $109,000. Finally, State of Wyoming purchased a new position in AssetMark Financial in the fourth quarter valued at about $113,000. Hedge funds and other institutional investors own 26.81% of the company’s stock.
AssetMark Financial Company Profile
AssetMark Financial Holdings, Inc provides wealth management and technology solutions. The company was founded by Ronald Dennis Cordes, Brian O’Toole and Richard Steiny in 1996 and is headquartered in Concord, CA.
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