Assertio Holdings, Inc. (NASDAQ:ASRT) CEO Sells $92,368.50 in Stock

Assertio Holdings, Inc. (NASDAQ:ASRT – Get Rating) CEO Daniel A. Peisert sold 26,391 shares of the firm’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $3.50, for a total value of $92,368.50. Following the sale, the chief executive officer now directly owns 158,402 shares in the company, valued at approximately $554,407. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of NASDAQ:ASRT traded up $0.04 during trading on Wednesday, reaching $3.10. 1,338,018 shares of the stock were exchanged, compared to its average volume of 932,005. Assertio Holdings, Inc. has a 12 month low of $0.85 and a 12 month high of $3.52. The firm has a market cap of $140.53 million, a PE ratio of -155.00 and a beta of 1.54. The stock has a 50-day moving average price of $2.62 and a 200-day moving average price of $1.97. The company has a current ratio of 0.77, a quick ratio of 0.71 and a debt-to-equity ratio of 0.60.

Assertio (NASDAQ:ASRT – Get Rating) last released its earnings results on Wednesday, March 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.02). Assertio had a negative net margin of 1.15% and a negative return on equity of 1.29%. During the same period in the prior year, the firm posted ($0.80) earnings per share. On average, sell-side analysts expect that Assertio Holdings, Inc. will post 0.35 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ASRT. Geode Capital Management LLC lifted its stake in shares of Assertio by 2.2% in the third quarter. Geode Capital Management LLC now owns 344,331 shares of the company’s stock worth $311,000 after acquiring an additional 7,525 shares during the period. TSP Capital Management Group LLC raised its holdings in Assertio by 105.5% during the 3rd quarter. TSP Capital Management Group LLC now owns 268,624 shares of the company’s stock worth $243,000 after purchasing an additional 137,875 shares during the last quarter. Morgan Stanley raised its holdings in Assertio by 520.5% during the 1st quarter. Morgan Stanley now owns 258,743 shares of the company’s stock worth $176,000 after purchasing an additional 217,042 shares during the last quarter. Perritt Capital Management Inc. raised its holdings in Assertio by 118.8% during the 3rd quarter. Perritt Capital Management Inc. now owns 218,750 shares of the company’s stock worth $198,000 after purchasing an additional 118,750 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Assertio by 165.4% during the 4th quarter. Millennium Management LLC now owns 194,350 shares of the company’s stock valued at $424,000 after purchasing an additional 121,125 shares in the last quarter. 13.63% of the stock is currently owned by hedge funds and other institutional investors.

ASRT has been the topic of a number of recent research reports. Zacks Investment Research raised Assertio from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Monday, February 21st. StockNews.com initiated coverage on Assertio in a report on Saturday, March 26th. They set a “buy” rating for the company.

About Assertio (Get Rating)

Assertio Holdings, Inc, a specialty pharmaceutical company, provides medicines in the areas of neurology, hospital, and pain and inflammation. Its pharmaceutical products include INDOCIN, an oral solution and a suppository form for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.

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