AssetMark Financial Holdings, Inc. (NYSE:AMK – Get Rating) was the target of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 295,700 shares, a drop of 9.4% from the November 15th total of 326,500 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 90,800 shares, the short-interest ratio is currently 3.3 days.
Hedge Funds Weigh In On AssetMark Financial
Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of AssetMark Financial in the 1st quarter worth $462,000. Amalgamated Bank acquired a new position in shares of AssetMark Financial in the 1st quarter worth $49,000. JPMorgan Chase & Co. grew its holdings in shares of AssetMark Financial by 9.0% in the 1st quarter. JPMorgan Chase & Co. now owns 3,154,103 shares of the company's stock worth $70,179,000 after acquiring an additional 259,120 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of AssetMark Financial by 55.8% in the 1st quarter. Primecap Management Co. CA now owns 251,700 shares of the company's stock worth $5,600,000 after acquiring an additional 90,100 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of AssetMark Financial by 9.9% in the 1st quarter. Jennison Associates LLC now owns 836,661 shares of the company's stock worth $18,616,000 after acquiring an additional 75,181 shares during the last quarter. 26.64% of the stock is currently owned by institutional investors and hedge funds.
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AssetMark Financial Stock Up 0.6 %
Shares of AssetMark Financial stock opened at $23.06 on Wednesday. The business's fifty day moving average price is $22.41 and its two-hundred day moving average price is $20.37. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.72 and a quick ratio of 3.72. The company has a market capitalization of $1.70 billion, a P/E ratio of 18.90 and a beta of 1.05. AssetMark Financial has a 1-year low of $16.88 and a 1-year high of $27.28.
Wall Street Analyst Weigh In
AMK has been the topic of several recent research reports. TheStreet raised AssetMark Financial from a "c+" rating to a "b" rating in a report on Friday, November 11th. Raymond James cut their price target on AssetMark Financial from $30.00 to $29.00 and set a "strong-buy" rating on the stock in a report on Tuesday, October 11th.
AssetMark Financial Company Profile
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AssetMark Financial Holdings, Inc provides wealth management and technology solutions 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 to the financial adviser channel. The company provides integrated technology platform for advisers for accessing a range of automated processes, including new account opening, portfolio construction, streamlined financial planning, customer billing, investor reporting, progress to goal analysis, and client activity tracking; advisory services; and curated investment platform.
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