AssetMark Financial Holdings (NYSE:AMK) Sees Large Decrease in Short Interest
AssetMark Financial Holdings (NYSE:AMK) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,580,000 shares, a drop of 13.7% from the June 30th total of 1,830,000 shares. Based on an average trading volume of 143,100 shares, the short-interest ratio is currently 11.0 days. Approximately 9.2% of the shares of the company are sold short.
Shares of NYSE AMK traded up $0.05 during midday trading on Friday, reaching $27.85. 215,736 shares of the stock were exchanged, compared to its average volume of 80,392. The company has a market capitalization of $2.02 billion and a P/E ratio of 51.57. AssetMark Financial has a 52-week low of $13.94 and a 52-week high of $34.02. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $27.29 and a 200-day moving average price of $25.93.
AssetMark Financial (NYSE:AMK) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.10. The business had revenue of $114.89 million during the quarter, compared to the consensus estimate of $115.55 million. AssetMark Financial had a negative net margin of 0.11% and a positive return on equity of 4.15%. On average, analysts forecast that AssetMark Financial will post 0.41 earnings per share for the current year.
In related news, CEO Charles G. Goldman sold 88,317 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $23.10, for a total value of $2,040,122.70. Following the completion of the sale, the chief executive officer now owns 2,319,191 shares in the company, valued at $53,573,312.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ted F. Angus sold 9,447 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $27.16, for a total transaction of $256,580.52. Following the completion of the sale, the executive vice president now owns 168,055 shares of the company’s stock, valued at approximately $4,564,373.80. The disclosure for this sale can be found here. Insiders sold a total of 483,712 shares of company stock valued at $12,261,069 in the last 90 days. Company insiders own 7.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AMK. Legal & General Group Plc grew its holdings in shares of AssetMark Financial by 40.7% during the first quarter. Legal & General Group Plc now owns 3,460 shares of the company’s stock worth $70,000 after buying an additional 1,000 shares in the last quarter. Citigroup Inc. boosted its position in shares of AssetMark Financial by 41.1% in the first quarter. Citigroup Inc. now owns 3,965 shares of the company’s stock worth $81,000 after acquiring an additional 1,155 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of AssetMark Financial in the first quarter worth approximately $110,000. Victory Capital Management Inc. acquired a new stake in shares of AssetMark Financial in the fourth quarter worth approximately $152,000. Finally, Strs Ohio boosted its position in shares of AssetMark Financial by 113.9% in the second quarter. Strs Ohio now owns 7,700 shares of the company’s stock worth $210,000 after acquiring an additional 4,100 shares during the last quarter. Institutional investors and hedge funds own 22.05% of the company’s stock.
About AssetMark Financial
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.
Further Reading: Sell-Side Analysts
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