Company profile

Ticker
AMK
Exchange
CEO
Charles George Goldman
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
Former names
AqGen Liberty Management II, Inc.
SEC CIK
IRS number
300774039

AMK stock data

(
)

Calendar

13 May 20
9 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 114.89M 111.01M 110.13M 104.48M
Net income 2.74M -2.74M -3.73M 3.24M
Diluted EPS 0.04 -0.04 -0.05
Net profit margin 2.38% -2.47% -3.39% 3.10%
Net change in cash -16.18M 13.11M 18.21M
Cash on hand 80.16M 96.34M 83.24M 65.02M
Annual (USD) Dec 19 Dec 18 Dec 17
Revenue 417.94M 363.63M 295.52M
Net income -420K 37.43M 98.98M
Diluted EPS -0.01 0.57 1.5
Net profit margin -0.10% 10.29% 33.49%
Net change in cash -9.01M 55.21M
Cash on hand 96.34M 105.35M 50.15M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
2 Jul 20 Mukesh Mehta Common Stock Sell Dispose S No 27.23 2,995 81.55K 339,431
2 Jul 20 Kim Michael Common Stock Sell Dispose S No 27.22 1,939 52.78K 348,144
1 Jul 20 Mukesh Mehta Common Stock Sell Dispose S No 26.76 3,000 80.28K 346,431
1 Jul 20 Jeremiah H Chafkin Common Stock Sell Dispose S No 26.8 7,934 212.63K 517,449
1 Jul 20 Kim Michael Common Stock Sell Dispose S No 26.8 8,061 216.03K 350,083
1 Jul 20 Mukesh Mehta Common Stock Sell Dispose S No 26.79 4,005 107.29K 342,426
23 Jun 20 Natalie Grace Wolfsen Common Stock Sell Dispose S No 28.18 16,983 478.58K 396,480
22 Jun 20 Natalie Grace Wolfsen Common Stock Sell Dispose S No 28.02 5,191 145.45K 413,463
19 Jun 20 Natalie Grace Wolfsen Common Stock Sell Dispose S No 27.99 100 2.8K 418,654
11 Jun 20 Charles G Goldman Common Stock Sell Dispose S No 26.71 1,400 37.39K 0
22.1% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 60 68 -11.8%
Opened positions 2 16 -87.5%
Closed positions 10 15 -33.3%
Increased positions 32 29 +10.3%
Reduced positions 14 17 -17.6%
13F shares
Current Prev Q Change
Total value 325.49M 458.14M -29.0%
Total shares 15.96M 15.76M +1.3%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Capital World Investors 2.25M $45.88M 0.0%
Lord, Abbett & Co. 1.4M $28.56M +10.9%
Vanguard 1.3M $26.45M +8.8%
JPM JPMorgan Chase & Co. 1.25M $25.56M +20.5%
Alliancebernstein 1.24M $25.3M -3.9%
WFC Wells Fargo & Company 1.2M $24.41M +28.4%
Adage Capital Partners GP, L.L.C. 1.13M $22.99M +62.6%
BLK BlackRock 1.02M $20.88M -4.4%
Loomis Sayles & Co L P 855.57K $17.45M +0.6%
Clearbridge Advisors 742.93K $15.15M -0.8%
Largest transactions
Shares Bought/sold Change
Azora Capital 0 -616.32K EXIT
Adage Capital Partners GP, L.L.C. 1.13M +434.24K +62.6%
WFC Wells Fargo & Company 1.2M +264.74K +28.4%
Balyasny Asset Management 30.56K -252.25K -89.2%
JPM JPMorgan Chase & Co. 1.25M +213.35K +20.5%
BEN Franklin Resources 0 -201.92K EXIT
RY Royal Bank of Canada 199.66K +198.36K +15305.6%
Lord, Abbett & Co. 1.4M +137.75K +10.9%
Vanguard 1.3M +104.94K +8.8%
Millennium Management 27.39K -96.66K -77.9%

Financial report summary

?
Risks
  • We operate in an intensely competitive industry, with many firms competing for business from financial advisers on the basis of the quality and breadth of investment solutions and services, ability to innovate, reputation and the prices of services, among other factors, and this competition could hurt our financial performance.
  • We derive nearly all of our revenue from the delivery of investment solutions and services to clients in the financial advisory industry and our revenue could suffer if that industry experiences a downturn.
  • Investors that pay us an asset-based fee may seek to negotiate a lower fee percentage, choose to use lower revenue products or cease using our services, which could limit the growth of our revenue or cause our revenue to decrease.
  • Investors may redeem or withdraw their investment assets generally at any time. Significant changes in investing patterns or large-scale withdrawal of investment funds could have a material adverse effect on our results of operations, financial condition or business.
  • We must continue to introduce new investment solutions and services, and enhancements thereon, to address our clients’ changing needs, market changes and technological developments, and a failure to do so could have a material adverse effect on our results of operations, financial condition or business.
  • We could face liability or incur costs to remediate operational errors or to address possible customer dissatisfaction.
  • We may be subject to liability for losses that result from a breach of our fiduciary duties.
  • If our reputation is harmed, our results of operations, financial condition or business could be materially adversely affected.
  • If our investment solutions and services fail to perform properly due to undetected errors or similar problems, our results of operations, financial condition or business could be materially adversely affected.
  • Our failure to successfully execute the conversion of our clients’ assets from their existing technology platform to our platform in a timely and accurate manner could have a material adverse effect on our results of operations, financial condition or business.
  • Our business relies heavily on computer equipment, electronic delivery systems and the Internet. Any failures, disruptions or other adverse impacts could result in reduced revenue and the loss of customers.
  • If government regulation of the Internet changes, or if consumer attitudes towards the Internet change, we may need to change the manner in which we conduct our business or incur greater operating expenses.
  • Inadequacy or disruption of our disaster recovery plans and procedures in the event of a catastrophe could adversely affect our business.
  • We are reliant on our relationships with certain broker-dealers and strategists, the loss of which could adversely affect our results of operations, financial condition or business.
  • We are dependent on third-party service providers in our operations.
  • We are dependent on third-party pricing services for the valuation of securities invested in our investment products.
  • We rely on our key personnel and principals.
  • We could face liability related to our storage of personal information about our users.
  • We could face liability for certain information we provide, including information based on data we obtain from other parties.
  • If we are not able to satisfy data protection, security, privacy and other government- and industry-specific requirements or regulations, our results of operations, financial condition or business could be harmed.
  • If third parties infringe upon our intellectual property or if we were to infringe upon the intellectual property of third parties, we may expend significant resources enforcing or defending our rights or suffer competitive injury.
  • Confidentiality agreements with employees, consultants and others may not adequately prevent disclosure of trade secrets and other proprietary information.
  • The use of “open source code” in investment solutions may expose us to additional risks and harm our intellectual property rights.
  • We may become subject to liability based on the use of our investment solutions and services by our clients.
  • Lack of liquidity or access to capital could impair our business and financial condition.
  • We may not be able to generate sufficient cash to service our indebtedness and may be forced to take other actions to satisfy our obligations under our Credit Facility, which may not be successful.
  • Restrictions in our existing and future debt agreements could limit our growth and our ability to engage in certain activities.
  • Our insurance coverage may be inadequate or expensive.
  • We are a holding company and rely on dividends, distributions and other payments, advances and transfers of funds from our subsidiaries to meet our debt service and other obligations.
  • Our controls and procedures may fail or be circumvented, our risk management policies and procedures may be inadequate and operational risks could adversely affect our reputation and financial condition.
  • The Committee on Foreign Investment in the United States (“CFIUS”) may modify, delay or prevent our future acquisition or investment activities.
  • Changes to the laws or regulations applicable to us or to our financial adviser clients could adversely affect our results of operations, financial condition or business.
  • If we experience material weaknesses or otherwise fail to maintain an effective system of internal controls, we may not be able to accurately or timely report our financial condition or results of operations, which may adversely affect investor confidence in us and, as a result, the value of our common stock.
  • Failure to comply with ERISA and Internal Revenue Code regulations could result in penalties against us.
  • We are subject to litigation and regulatory examinations and investigations.
  • Failure to properly disclose conflicts of interest could harm our reputation, results of operations or business.
  • In the event of a change of control of our company, we may be required to obtain FINRA approval and the consent of our advisory clients to the change of control, and any failure to obtain these consents could adversely affect our results of operations, financial condition or business.
  • An active market for our common stock may not be sustained, which may inhibit the ability of our stockholders to sell shares of our common stock.
  • Future sales of a substantial number of shares of our common stock in the public market could cause the price of our common stock to decline.
  • We are a “controlled company” within the meaning of the NYSE listing standards and, as a result, qualify for, and intend to rely on, exemptions from certain corporate governance requirements. You will not have the same protections afforded to stockholders of companies that are subject to such requirements.
  • We are an “emerging growth company” and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our common stock less attractive to investors.
  • The requirements of being a public company may strain our resources and distract our management, which could make it difficult to manage our business, particularly after we are no longer an “emerging growth company.”
  • Our management has limited experience managing a public company, and our current resources may not be sufficient to fulfill our public company obligations.
  • Some provisions of Delaware law and our certificate of incorporation and bylaws may deter third parties from acquiring us.
  • Delaware law may delay or prevent a change in control, and may discourage bids for our common stock at a premium over its market price.
Management Discussion
  • Asset-based revenue increased by $22.6 million, or 27.2%, from $83.1 million in the three months ended March 31, 2019 to $105.7 million in the three months ended March 31, 2020. This increase was primarily related to increased platform fees and advisory fees of $22.4 million associated with growth in platform assets, primarily driven by positive net flows and strong market conditions. The remaining increase was primarily related to higher custodial revenue driven by increased administrative service fees due to growth in mutual fund assets on our platform.
  • Spread-based revenue increased $0.4 million, or 5.3%, from $7.6 million in the three months ended March 31, 2019 to $8.0 million in the three months ended March 31, 2020. This increase was primarily due to higher cash balances held at ATC, offset by lower interest rates on cash invested through ATC’s insured cash deposit program.
  • Other revenue decreased by $0.4 million, or 24.3%, from $1.7 million in the three months ended March 31, 2019 to $1.3 million in the three months ended March 31, 2020. This decrease was primarily related to lower interest income from lower interest rates and lower cash balances generated from operating activities due to market downturns caused by the recent COVID-19 pandemic.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg