Phocas Financial Corp. Purchases New Position in AssetMark Financial Holdings, Inc. (NYSE:AMK)

Phocas Financial Corp. acquired a new position in shares of AssetMark Financial Holdings, Inc. (NYSE:AMK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 108,464 shares of the company's stock, valued at approximately $3,248,000. Phocas Financial Corp. owned 0.15% of AssetMark Financial at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of AssetMark Financial during the 1st quarter worth about $27,000. Citigroup Inc. lifted its holdings in shares of AssetMark Financial by 70.8% during the 1st quarter. Citigroup Inc. now owns 1,192 shares of the company's stock worth $37,000 after acquiring an additional 494 shares during the period. Quantbot Technologies LP purchased a new position in shares of AssetMark Financial during the 3rd quarter worth about $81,000. State of Wyoming purchased a new position in shares of AssetMark Financial during the 4th quarter worth about $113,000. Finally, Legal & General Group Plc raised its holdings in AssetMark Financial by 32.4% in the second quarter. Legal & General Group Plc now owns 7,099 shares of the company's stock valued at $134,000 after buying an additional 1,738 shares during the period. 28.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Raymond James raised their price target on shares of AssetMark Financial from $39.00 to $41.00 and gave the company a "strong-buy" rating in a report on Thursday.

AssetMark Financial Trading Down 2.4 %

NYSE AMK traded down $0.85 during mid-day trading on Monday, hitting $35.27. The company's stock had a trading volume of 318,873 shares, compared to its average volume of 195,833. AssetMark Financial Holdings, Inc. has a 52-week low of $22.92 and a 52-week high of $37.54. The stock's fifty day simple moving average is $34.42 and its two-hundred day simple moving average is $29.57. 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 firm has a market capitalization of $2.62 billion, a P/E ratio of 22.02 and a beta of 1.11.

AssetMark Financial (NYSE:AMK - Get Free Report) last posted 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. The company had revenue of $158.18 million for the quarter, compared to analyst estimates of $188.88 million. AssetMark Financial had a net margin of 17.38% and a return on equity of 12.74%. Research analysts expect that AssetMark Financial Holdings, Inc. will post 2.46 EPS for the current year.

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.