Analysts Expect AssetMark Financial Holdings, Inc. (NYSE:AMK) Will Post Quarterly Sales of $120.40 Million

Wall Street analysts forecast that AssetMark Financial Holdings, Inc. (NYSE:AMK) will announce sales of $120.40 million for the current quarter, according to Zacks. Three analysts have made estimates for AssetMark Financial’s earnings, with the highest sales estimate coming in at $122.33 million and the lowest estimate coming in at $118.87 million. AssetMark Financial reported sales of $114.89 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The company is scheduled to announce its next earnings results on Tuesday, May 4th.

According to Zacks, analysts expect that AssetMark Financial will report full-year sales of $506.66 million for the current financial year, with estimates ranging from $502.00 million to $509.10 million. For the next year, analysts expect that the firm will report sales of $558.54 million, with estimates ranging from $550.00 million to $570.28 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for AssetMark Financial.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings data on Wednesday, February 10th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.18. The business had revenue of $110.92 million during the quarter, compared to analyst estimates of $112.82 million. AssetMark Financial had a positive return on equity of 2.84% and a negative net margin of 0.16%.

A number of research firms have weighed in on AMK. Truist began coverage on AssetMark Financial in a research note on Friday, December 18th. They set a “hold” rating and a $27.00 price objective for the company. Zacks Investment Research lowered AssetMark Financial from a “buy” rating to a “hold” rating in a research note on Monday, February 8th. Finally, Raymond James raised their target price on AssetMark Financial from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, February 12th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.67.

Shares of NYSE AMK traded down $0.21 during trading on Monday, reaching $22.32. 3 shares of the company traded hands, compared to its average volume of 109,113. The firm’s fifty day simple moving average is $23.89 and its 200 day simple moving average is $23.81. The stock has a market cap of $1.62 billion, a P/E ratio of -1,125.94 and a beta of 1.23. AssetMark Financial has a 12-month low of $19.87 and a 12-month high of $29.45. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 0.14.

In other news, CFO Gary G. Zyla sold 1,909 shares of AssetMark Financial stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $25.00, for a total transaction of $47,725.00. Following the sale, the chief financial officer now owns 165,632 shares of the company’s stock, valued at approximately $4,140,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Natalie Grace Wolfsen sold 4,146 shares of the company’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $23.01, for a total value of $95,399.46. Following the sale, the executive vice president now directly owns 378,054 shares in the company, valued at approximately $8,699,022.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,675 shares of company stock worth $4,998,596. Insiders own 7.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of AMK. JPMorgan Chase & Co. grew its stake in shares of AssetMark Financial by 43.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,599,936 shares of the company’s stock worth $62,918,000 after purchasing an additional 792,517 shares in the last quarter. Azora Capital LP acquired a new position in shares of AssetMark Financial during the third quarter worth $10,074,000. FIL Ltd acquired a new position in shares of AssetMark Financial during the fourth quarter worth $10,789,000. BlackRock Inc. grew its stake in shares of AssetMark Financial by 27.8% during the third quarter. BlackRock Inc. now owns 1,488,245 shares of the company’s stock worth $32,355,000 after purchasing an additional 323,280 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of AssetMark Financial by 41.7% during the fourth quarter. Nuveen Asset Management LLC now owns 231,516 shares of the company’s stock worth $5,603,000 after purchasing an additional 68,171 shares in the last quarter. 23.50% of the stock is currently owned by institutional investors and hedge funds.

AssetMark Financial Company Profile

AssetMark Financial Holdings, Inc provides wealth management and technology solutions in the United States. The company 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.

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