AssetMark Financial (NYSE:AMK) Downgraded by JPMorgan Chase & Co.

AssetMark Financial (NYSE:AMK) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Friday, Marketbeat reports. They currently have a $37.00 price target on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 9.05% from the stock’s previous close.

AMK has been the subject of several other research reports. William Blair downgraded shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday. Raymond James increased their price objective 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 Stock Performance

NYSE AMK opened at $33.93 on Friday. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 20.69 and a beta of 1.11. The firm’s 50 day simple moving average is $35.09 and its 200 day simple moving average is $30.19. AssetMark Financial has a 1 year low of $22.92 and a 1 year high of $37.54.

AssetMark Financial (NYSE:AMK) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The business 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, research analysts expect that AssetMark Financial will post 2.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AssetMark Financial

Large investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of AssetMark Financial during the third quarter valued at $81,000. SG Americas Securities LLC bought a new position in shares of AssetMark Financial during the fourth quarter valued at $169,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 valued at $178,000 after acquiring an additional 2,059 shares during the last quarter. Arizona State Retirement System bought a new position in shares of AssetMark Financial during the fourth quarter valued at $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of AssetMark Financial during the fourth quarter valued at $230,000. Institutional investors own 28.64% of the company’s stock.

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.