AssetMark Financial Holdings, Inc. (NYSE:AMK – Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 272,400 shares, a growth of 30.5% from the August 15th total of 208,700 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average trading volume of 124,600 shares, the short-interest ratio is currently 2.2 days.
Institutional Investors Weigh In On AssetMark Financial
Several institutional investors and hedge funds have recently modified their holdings of AMK. Cerity Partners LLC purchased a new stake in shares of AssetMark Financial in the 1st quarter worth about $20,727,000. Jennison Associates LLC raised its position in shares of AssetMark Financial by 60.1% in the 2nd quarter. Jennison Associates LLC now owns 1,528,327 shares of the company’s stock worth $45,330,000 after acquiring an additional 573,517 shares in the last quarter. Seneca House Advisors bought a new position in shares of AssetMark Financial in the 1st quarter worth approximately $7,532,000. Blair William & Co. IL raised its position in shares of AssetMark Financial by 203.9% in the 1st quarter. Blair William & Co. IL now owns 347,725 shares of the company’s stock worth $10,936,000 after acquiring an additional 233,322 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of AssetMark Financial by 47.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 585,865 shares of the company’s stock worth $18,423,000 after buying an additional 189,590 shares during the period. 28.56% of the stock is owned by hedge funds and other institutional investors.
AssetMark Financial Price Performance
AMK stock opened at $26.75 on Monday. The firm’s 50-day moving average price is $28.95 and its two-hundred day moving average price is $29.43. AssetMark Financial has a 12-month low of $16.89 and a 12-month high of $33.00. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 18.71 and a beta of 1.03. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.08.
Analysts Set New Price Targets
Separately, Jefferies Financial Group upped their price target on shares of AssetMark Financial from $30.00 to $31.00 in a research report on Monday, July 10th.
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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