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

William Blair lowered shares of AssetMark Financial (NYSE:AMK) from an outperform rating to a market perform rating in a research note published on Thursday morning, Marketbeat reports.

Separately, Raymond James lifted their target price on shares of 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

AMK stock opened at $33.93 on Thursday. The firm’s 50-day moving average price is $35.09 and its two-hundred day moving average price is $30.27. AssetMark Financial has a 12-month low of $22.92 and a 12-month high of $37.54. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 20.69 and a beta of 1.11. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07.

AssetMark Financial (NYSE:AMK) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. The firm had revenue of $158.18 million for the quarter, compared to analysts’ expectations of $188.88 million. As a group, equities analysts predict that AssetMark Financial will post 2.46 earnings per share for the current year.

Institutional Investors Weigh In On AssetMark Financial

A number of large investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in AssetMark Financial during the third quarter worth about $81,000. SG Americas Securities LLC bought a new stake in AssetMark Financial during the fourth quarter worth about $169,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AssetMark Financial by 40.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,102 shares of the company’s stock worth $178,000 after acquiring an additional 2,059 shares in the last quarter. Arizona State Retirement System bought a new stake in AssetMark Financial during the fourth quarter worth about $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in AssetMark Financial during the fourth quarter worth about $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.