AssetMark Financial Holdings (NYSE:AMK) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 379,800 shares, a growth of 1,482.5% from the August 30th total of 24,000 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 423,600 shares, the days-to-cover ratio is presently 0.9 days.
AssetMark Financial stock traded up $0.09 during mid-day trading on Friday, hitting $25.66. 138,262 shares of the company were exchanged, compared to its average volume of 248,816. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 2.56. The firm has a 50 day moving average price of $26.54. AssetMark Financial has a 12-month low of $22.87 and a 12-month high of $29.37.
AssetMark Financial (NYSE:AMK) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $104.48 million for the quarter, compared to analysts’ expectations of $102.80 million. On average, analysts forecast that AssetMark Financial will post 0.57 EPS for the current fiscal year.
In related news, major shareholder Securities Co. Ltd. Huatai sold 8,125,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $20.57, for a total value of $167,131,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
AMK has been the subject of several research analyst reports. Goldman Sachs Group initiated coverage on AssetMark Financial in a research note on Monday, August 12th. They issued a “buy” rating and a $31.00 price objective for the company. Raymond James initiated coverage on AssetMark Financial in a research note on Monday, August 12th. They issued an “outperform” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on AssetMark Financial in a research note on Monday, August 12th. They issued a “neutral” rating and a $29.00 price objective for the company. BMO Capital Markets initiated coverage on AssetMark Financial in a research note on Monday. They issued a “market perform” rating and a $24.00 price objective for the company. Finally, William Blair initiated coverage on AssetMark Financial in a research note on Monday, August 12th. They issued a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.75.
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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