Analysts Expect AssetMark Financial Holdings, Inc. (NYSE:AMK) Will Post Quarterly Sales of $143.55 Million

Equities research analysts expect AssetMark Financial Holdings, Inc. (NYSE:AMK) to announce sales of $143.55 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for AssetMark Financial’s earnings. The highest sales estimate is $144.49 million and the lowest is $142.15 million. AssetMark Financial reported sales of $110.92 million during the same quarter last year, which would suggest a positive year over year growth rate of 29.4%. The business is scheduled to announce its next quarterly earnings report on Thursday, February 10th.

According to Zacks, analysts expect that AssetMark Financial will report full year sales of $530.36 million for the current financial year, with estimates ranging from $528.87 million to $531.21 million. For the next fiscal year, analysts forecast that the company will report sales of $633.33 million, with estimates ranging from $617.86 million to $650.13 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AssetMark Financial.

AssetMark Financial (NYSE:AMK) last released its earnings results on Tuesday, November 9th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.02. AssetMark Financial had a return on equity of 5.05% and a net margin of 0.69%. The business had revenue of $139.67 million for the quarter, compared to analyst estimates of $137.66 million. During the same quarter in the previous year, the company posted $0.11 earnings per share.

Several analysts have recently issued reports on AMK shares. Credit Suisse Group upped their price objective on AssetMark Financial from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 10th. Raymond James increased their target price on AssetMark Financial from $41.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, November 10th. Zacks Investment Research downgraded AssetMark Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 18th. Finally, TheStreet upgraded AssetMark Financial from a “c” rating to a “b-” rating in a research note on Thursday, November 11th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $33.50.

Shares of NYSE:AMK remained flat at $$27.78 on Thursday. The stock had a trading volume of 54,878 shares, compared to its average volume of 100,073. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.23 and a quick ratio of 2.23. AssetMark Financial has a twelve month low of $21.83 and a twelve month high of $29.54. The firm has a 50-day moving average of $25.94. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 926.00 and a beta of 1.13.

In related news, EVP Mukesh Mehta sold 27,937 shares of the stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $28.04, for a total value of $783,353.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Jeremiah H. Chafkin sold 34,654 shares of the stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $26.08, for a total value of $903,776.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,575 shares of company stock valued at $1,957,873. Insiders own 5.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in AMK. Dimensional Fund Advisors LP lifted its holdings in AssetMark Financial by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 75,934 shares of the company’s stock worth $1,772,000 after buying an additional 5,617 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in AssetMark Financial by 51.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 95,676 shares of the company’s stock worth $2,233,000 after buying an additional 32,358 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AssetMark Financial by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 395,472 shares of the company’s stock worth $9,230,000 after buying an additional 60,990 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of AssetMark Financial by 10.9% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,627,675 shares of the company’s stock worth $37,990,000 after purchasing an additional 159,852 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of AssetMark Financial by 15.7% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 27,060 shares of the company’s stock worth $632,000 after purchasing an additional 3,672 shares during the last quarter. 25.91% of the stock is currently owned by institutional investors.

AssetMark Financial Company Profile

AssetMark Financial Holdings, Inc provides wealth management and technology solutions. It also provides end-to-end experience, spanning nearly all elements of an adviser’s engagement with client, from initial conversations to ongoing financial planning discussions, including performance reporting and billing.

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