Summit Global Investments lessened its holdings in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK – Free Report) by 83.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,400 shares of the company’s stock after selling 41,445 shares during the period. Summit Global Investments’ holdings in AssetMark Financial were worth $249,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Counterpoint Mutual Funds LLC purchased a new stake in shares of AssetMark Financial in the 1st quarter valued at approximately $109,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of AssetMark Financial in the 2nd quarter valued at $240,000. Dark Forest Capital Management LP acquired a new position in shares of AssetMark Financial in the 1st quarter valued at $209,000. Wakefield Asset Management LLLP acquired a new stake in shares of AssetMark Financial during the 1st quarter worth about $929,000. Finally, Cerity Partners LLC acquired a new stake in shares of AssetMark Financial during the 1st quarter worth about $20,727,000. Institutional investors own 28.56% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group increased their price objective on shares of AssetMark Financial from $30.00 to $31.00 in a report on Monday, July 10th.
AssetMark Financial Trading Down 0.1 %
AMK stock opened at $25.08 on Monday. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 17.54 and a beta of 1.03. The company has a fifty day moving average price of $27.91 and a two-hundred day moving average price of $29.09. AssetMark Financial Holdings, Inc. has a one year low of $16.89 and a one year high of $33.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.55 and a quick ratio of 2.55.
AssetMark Financial (NYSE:AMK – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). The firm had revenue of $183.23 million during the quarter, compared to analyst estimates of $183.95 million. AssetMark Financial had a net margin of 15.59% and a return on equity of 11.93%. Equities analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.12 EPS for the current year.
AssetMark Financial Company Profile
AssetMark Financial Holdings, Inc provides wealth management and technology solutions in the United States. The company 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.
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