AssetMark Financial (NYSE:AMK) Rating Lowered to Market Perform at William Blair

William Blair downgraded shares of AssetMark Financial (NYSE:AMK) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, MarketBeat reports.

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

AssetMark Financial Price Performance

AssetMark Financial stock remained flat at $33.89 during mid-day trading on Thursday. The company’s stock had a trading volume of 133,629 shares, compared to its average volume of 241,990. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The business has a fifty day moving average of $35.05 and a two-hundred day moving average of $30.13. AssetMark Financial has a 1 year low of $22.92 and a 1 year high of $37.54. The company has a market capitalization of $2.52 billion, a P/E ratio of 20.67 and a beta of 1.11.

AssetMark Financial (NYSE:AMK) last announced its earnings results on Wednesday, February 21st. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $158.18 million for the quarter, compared to analysts’ expectations of $188.88 million. AssetMark Financial had a return on equity of 12.74% and a net margin of 17.38%. Research analysts expect that AssetMark Financial will post 2.46 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC grew its holdings in shares of AssetMark Financial by 12.5% during the 3rd quarter. Jennison Associates LLC now owns 1,719,808 shares of the company’s stock worth $43,133,000 after purchasing an additional 191,481 shares in the last quarter. Azora Capital LP boosted 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 purchasing an additional 114,965 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of AssetMark Financial during the fourth quarter worth about $3,248,000. Adage Capital Partners GP L.L.C. raised its position in shares of AssetMark Financial by 14.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 787,960 shares of the company’s stock worth $19,762,000 after acquiring an additional 101,707 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in AssetMark Financial by 11.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 943,396 shares of the company’s stock worth $28,257,000 after purchasing an additional 98,444 shares in the last quarter. 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.