AssetMark Financial (NYSE:AMK) Downgraded by William Blair

AssetMark Financial (NYSE:AMK) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued on Thursday, FinViz reports.

Separately, Raymond James boosted their price target on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th.

AssetMark Financial Trading Down 2.6 %

Shares of AMK stock traded down $0.90 during mid-day trading on Thursday, reaching $34.00. 769,511 shares of the stock traded hands, compared to its average volume of 203,240. AssetMark Financial has a 1-year low of $22.92 and a 1-year high of $37.54. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 20.76 and a beta of 1.11. The stock’s fifty day simple moving average is $35.01 and its two-hundred day simple moving average is $30.11.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. The company had revenue of $158.18 million for the quarter, compared to analyst estimates of $188.88 million. On average, research analysts anticipate that AssetMark Financial will post 2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On AssetMark Financial

Several hedge funds and other institutional investors have recently modified their holdings of AMK. Quantbot Technologies LP acquired a new stake in shares of AssetMark Financial during the 3rd quarter worth about $81,000. SG Americas Securities LLC acquired a new stake in AssetMark Financial in the 4th quarter valued at about $169,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in AssetMark Financial by 40.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after acquiring an additional 2,059 shares during the last quarter. Arizona State Retirement System bought a new position in shares of AssetMark Financial during the fourth quarter worth approximately $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in AssetMark Financial in the fourth quarter valued at approximately $230,000. Institutional investors own 28.64% of the company’s stock.

About AssetMark Financial

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.