Assetmark Inc. Has $924,000 Stock Position in Antero Midstream Corporation $AM

Assetmark Inc. raised its stake in Antero Midstream Corporation (NYSE:AM) by 2,115.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,538 shares of the pipeline company’s stock after purchasing an additional 38,708 shares during the quarter. Assetmark Inc.’s holdings in Antero Midstream were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arax Advisory Partners increased its stake in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after buying an additional 791 shares during the last quarter. Larson Financial Group LLC lifted its stake in Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares during the last quarter. Root Financial Partners LLC lifted its stake in Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 537 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Antero Midstream by 219,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 2,199 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after purchasing an additional 2,224 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Activity

In other news, insider Yvette K. Schultz sold 69,269 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the transaction, the insider directly owned 580,565 shares in the company, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the transaction, the insider directly owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Antero Midstream Price Performance

Shares of NYSE AM opened at $22.75 on Friday. The stock has a market cap of $10.80 billion, a PE ratio of 26.45 and a beta of 0.64. Antero Midstream Corporation has a fifty-two week low of $16.77 and a fifty-two week high of $23.83. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $22.07 and a 200-day moving average of $21.38.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $314.21 million for the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities research analysts anticipate that Antero Midstream Corporation will post 1.1 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s payout ratio is presently 104.65%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AM. Weiss Ratings downgraded Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Antero Midstream has an average rating of “Hold” and an average price target of $24.25.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.