Brokerages forecast that AssetMark Financial Holdings, Inc. (NYSE:AMK) will announce sales of $143.55 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for AssetMark Financial’s earnings. The highest sales estimate is $144.49 million and the lowest is $142.15 million. AssetMark Financial posted sales of $110.92 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.4%. The firm is expected to report its next earnings report on Thursday, February 10th.
According to Zacks, analysts expect that AssetMark Financial will report full year sales of $530.36 million for the current financial year, with estimates ranging from $528.87 million to $531.21 million. For the next financial year, analysts anticipate that the company will report sales of $633.33 million, with estimates ranging from $617.86 million to $650.13 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for AssetMark Financial.
AssetMark Financial (NYSE:AMK) last announced its quarterly earnings results on Tuesday, November 9th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. AssetMark Financial had a net margin of 0.69% and a return on equity of 5.05%. The company had revenue of $139.67 million for the quarter, compared to analysts’ expectations of $137.66 million. During the same quarter in the previous year, the business posted $0.11 earnings per share.
AMK stock remained flat at $$27.78 during mid-day trading on Thursday. 54,878 shares of the company’s stock were exchanged, compared to its average volume of 100,073. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.12. AssetMark Financial has a fifty-two week low of $21.83 and a fifty-two week high of $29.54. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 926.00 and a beta of 1.13. The company has a 50 day simple moving average of $25.94.
In related news, EVP Mukesh Mehta sold 27,937 shares of the stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $28.04, for a total value of $783,353.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Jeremiah H. Chafkin sold 34,654 shares of the stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $26.08, for a total transaction of $903,776.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,575 shares of company stock worth $1,957,873. Corporate insiders own 5.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of AssetMark Financial by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 75,934 shares of the company’s stock worth $1,772,000 after purchasing an additional 5,617 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in AssetMark Financial by 51.1% during the first quarter. Goldman Sachs Group Inc. now owns 95,676 shares of the company’s stock worth $2,233,000 after acquiring an additional 32,358 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in AssetMark Financial by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 395,472 shares of the company’s stock worth $9,230,000 after acquiring an additional 60,990 shares during the period. Loomis Sayles & Co. L P grew its holdings in AssetMark Financial by 10.9% during the first quarter. Loomis Sayles & Co. L P now owns 1,627,675 shares of the company’s stock worth $37,990,000 after acquiring an additional 159,852 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in AssetMark Financial by 15.7% during the first quarter. D. E. Shaw & Co. Inc. now owns 27,060 shares of the company’s stock worth $632,000 after purchasing an additional 3,672 shares in the last quarter. Institutional investors own 25.91% of the company’s stock.
About AssetMark Financial
AssetMark Financial Holdings, Inc provides wealth management and technology solutions. It also provides end-to-end experience, spanning nearly all elements of an adviser’s engagement with client, from initial conversations to ongoing financial planning discussions, including performance reporting and billing.
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