T. Rowe Price Investment Manageme recently announced the acquisition of new stake in AssetMark Financial Holdings Inc. (NYSE:AMK). This fresh investment now brings its stake to 3.15% valued currently at $53.56 million. In addition, The Vanguard Group, Inc. raised its holdings by 29242.0 to 1.93 million shares. And Adage Capital Management LP has lifted its position by 6.62% or 91640.0 shares – to 1.48 million shares.
With over 0.26 million AssetMark Financial Holdings Inc. (AMK) shares trading Monday and a closing price of $25.65 on the day, the dollar volume was approximately $6.67 million. The shares have shown a positive half year performance of 38.42% and its price on 01/23/23 gained nearly 3.55%. Currently, there are 73.84M common shares owned by the public and among those 22.04M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for AMK have a consensus price objective of $28.17. The analysts have set the share’s price value over the next 12 months at a high of $32.00 and a low of $23.00. The average price target is 4.4% above its recent price level and a downside to the estimated low will see the stock lose -11.52% over that period. But an upside of 19.84% will see the stock hit the forecast high price target while median target price for the stock is $29.50.
Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 182,897 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 28,080 shares.
The top 3 mutual fund holders in AssetMark Financial Holdings Inc. are American Funds Small Cap World Fu, JPMorgan Small Cap Equity Fund, and T Rowe Price Small Cap Value Fund. American Funds Small Cap World Fu owns 1.92 million shares of the company’s stock, all valued at over $44.05 million. The company bought an additional 0.56 million shares recently to bring their total holdings to about 2.59% of the shares outstanding. T Rowe Price Small Cap Value Fund bought 4800.0 shares to bring its total holdings to over 1.62 million shares at a value of $37.37 million. T Rowe Price Small Cap Value Fund now owns shares totaling to 2.20% of the shares outstanding.
Shares of AssetMark Financial Holdings Inc. (NYSE: AMK) opened at $26.70, up $1.93 from a prior closing price of $24.77. However, the script later moved the day high at 26.70, up 3.55%. The company’s stock has a 5-day price change of 3.43% and 42.03% over the past three months. AMK shares are trading 11.52% year to date (YTD), with the 12-month market performance up to 3.64% higher. It has a 12-month low price of $16.88 and touched a high of $25.19 over the same period. AMK has an average intraday trading volume of 91.13K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.82%, 7.29%, and 23.98% respectively.
Institutional ownership of AssetMark Financial Holdings Inc. (NYSE: AMK) shares accounts for 27.10% of the company’s 73.84M shares outstanding. Mutual fund holders own 5.84%, while other institutional holders and individual stakeholders account for 9.38% and 17.54% respectively.
It has a market capitalization of $1.85B and a beta (3y monthly) value of 1.06. The stock’s trailing 12-month PE ratio is 21.01, while the earnings-per-share (ttm) stands at $1.22. The company has a PEG of 0.65 and a Quick Ratio of 3.70 with the debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.04% over the week and 2.48% over the month.
Analysts forecast that AssetMark Financial Holdings Inc. (AMK) will achieve an EPS of $0.42 for the current quarter, $0.41 for the next quarter and $1.88 for 2023. The lowest estimate earnings-per-share for the quarter is $0.4 while analysts give the company a high EPS estimate of $0.46. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to increase by 405.80%, and 16.81% over the next financial year. EPS should grow at an annualized rate of 32.26% over the next five years, compared to 23.98% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate AssetMark Financial Holdings Inc. (AMK) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AMK, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on January 23, 2023, with the firm’s price target at $24-$32. Raymond James was of a view on May 11, 2021 that the stock is Strong Buy, while Truist gave the stock Hold rating on December 18, 2020, issuing a price target of $27. Jefferies on their part issued Hold rating on September 23, 2020.