Water Island Capital LLC Acquires New Position in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Water Island Capital LLC bought a new position in AssetMark Financial Holdings, Inc. (NYSE:AMK) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,880 shares of the company’s stock, valued at approximately $756,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AMK. Wolverine Asset Management LLC bought a new stake in shares of AssetMark Financial in the 2nd quarter worth approximately $1,791,000. Hodges Capital Management Inc. purchased a new stake in AssetMark Financial during the first quarter valued at about $2,124,000. Azora Capital LP grew its stake in shares of AssetMark Financial by 32.8% during the fourth quarter. Azora Capital LP now owns 465,355 shares of the company’s stock valued at $13,937,000 after buying an additional 114,965 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of AssetMark Financial by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,140,031 shares of the company’s stock valued at $75,778,000 after buying an additional 23,509 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of AssetMark Financial by 1,614.0% in the second quarter. SG Americas Securities LLC now owns 84,035 shares of the company’s stock worth $2,903,000 after buying an additional 79,132 shares during the period. Hedge funds and other institutional investors own 28.64% of the company’s stock.

AssetMark Financial Price Performance

Shares of AMK stock opened at $35.24 on Monday. The business has a 50-day moving average of $34.97 and a 200 day moving average of $34.73. AssetMark Financial Holdings, Inc. has a 1-year low of $22.92 and a 1-year high of $37.54. The stock has a market capitalization of $2.62 billion, a PE ratio of 18.45 and a beta of 1.10.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings data on Thursday, July 18th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). AssetMark Financial had a net margin of 19.43% and a return on equity of 13.08%. The company had revenue of $198.49 million for the quarter, compared to analysts’ expectations of $193.28 million. Analysts anticipate that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current year.

AssetMark Financial Profile

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology solutions to the financial adviser channel.