William Blair Downgrades AssetMark Financial (NYSE:AMK) to Market Perform

William Blair cut shares of AssetMark Financial (NYSE:AMK) from an outperform rating to a market perform rating in a report published on Thursday, MarketBeat Ratings reports.

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

AssetMark Financial Stock Up 0.1 %

NYSE:AMK opened at $33.93 on Thursday. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 20.69 and a beta of 1.11. AssetMark Financial has a 1-year low of $22.92 and a 1-year high of $37.54. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $35.09 and its 200 day moving average price is $30.27.

AssetMark Financial (NYSE:AMK) last issued its earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts forecast that AssetMark Financial will post 2.46 earnings per share for the current fiscal year.

Institutional Trading of AssetMark Financial

Several large investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in AssetMark Financial during the 3rd quarter valued at approximately $81,000. SG Americas Securities LLC bought a new position in AssetMark Financial in the 4th quarter valued at $169,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in AssetMark Financial by 40.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock valued at $178,000 after buying an additional 2,059 shares during the last quarter. Arizona State Retirement System bought a new position in AssetMark Financial in the 4th quarter valued at $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of AssetMark Financial in the 4th quarter worth $230,000. Institutional investors own 28.64% of the company’s stock.

AssetMark Financial Company 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.