AssetMark Financial Holdings, Inc. (NYSE:AMK) Sees Significant Increase in Short Interest

AssetMark Financial Holdings, Inc. (NYSE:AMK) 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.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The business had revenue of $183.23 million during the quarter, compared to the consensus estimate of $183.95 million. AssetMark Financial had a return on equity of 11.93% and a net margin of 15.59%. As a group, equities analysts predict that AssetMark Financial will post 2.12 earnings per share for the current year.

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.