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

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

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

AssetMark Financial Price Performance

NYSE:AMK remained flat at $33.89 on Thursday. 133,629 shares of the company’s stock were exchanged, compared to its average volume of 241,990. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 20.67 and a beta of 1.11. The business has a 50-day simple moving average of $35.05 and a two-hundred day simple moving average of $30.13. AssetMark Financial has a one year low of $22.92 and a one year high of $37.54.

AssetMark Financial (NYSE:AMK) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts anticipate that AssetMark Financial will post 2.46 earnings per share for the current year.

Institutional Investors Weigh In On AssetMark Financial

Large investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of AssetMark Financial during the third quarter worth $81,000. SG Americas Securities LLC acquired a new stake in shares of AssetMark Financial during the fourth quarter worth $169,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 purchasing an additional 2,059 shares during the period. Arizona State Retirement System acquired a new stake in shares of AssetMark Financial during the fourth quarter worth $218,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of AssetMark Financial during the fourth quarter worth $230,000. 28.64% of the stock is owned by institutional investors and hedge funds.

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.