Heather L. Mason Sells 89,286 Shares of Assertio Holdings, Inc. (NASDAQ:ASRT) Stock

Assertio Holdings, Inc. (NASDAQ:ASRT – Get Rating) Director Heather L. Mason sold 89,286 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $7.30, for a total transaction of $651,787.80. Following the completion of the transaction, the director now directly owns 187,650 shares in the company, valued at $1,369,845. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Assertio Price Performance

Assertio stock opened at $7.04 on Tuesday. Assertio Holdings, Inc. has a 52 week low of $2.07 and a 52 week high of $8.01. The company has a quick ratio of 1.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.15. The firm’s 50-day simple moving average is $6.22 and its 200 day simple moving average is $4.84. The firm has a market capitalization of $391.85 million, a PE ratio of 4.66, a P/E/G ratio of 1.56 and a beta of 1.39.

Assertio (NASDAQ:ASRT – Get Rating) last released its quarterly earnings data on Wednesday, March 8th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $0.23 by $1.11. Assertio had a net margin of 59.86% and a return on equity of 52.50%. The business had revenue of $50.35 million for the quarter, compared to analyst estimates of $49.57 million. On average, equities research analysts predict that Assertio Holdings, Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ASRT shares. BWS Financial boosted their price objective on shares of Assertio from $8.00 to $10.00 in a research note on Wednesday, May 10th. Lake Street Capital boosted their target price on shares of Assertio from $8.00 to $9.00 in a research report on Wednesday, May 10th. StockNews.com lowered shares of Assertio from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. Finally, TheStreet upgraded shares of Assertio from a “c-” rating to a “b-” rating in a research report on Wednesday, March 29th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Assertio presently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Institutional Investors Weigh In On Assertio

Several institutional investors and hedge funds have recently made changes to their positions in ASRT. Advisor Group Holdings Inc. boosted its position in shares of Assertio by 2,983.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 13,229 shares of the company’s stock worth $38,000 after buying an additional 12,800 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Assertio in the 1st quarter valued at about $540,000. Charles Schwab Investment Management Inc. purchased a new position in Assertio in the 1st quarter valued at about $67,000. Renaissance Technologies LLC lifted its holdings in Assertio by 621.1% in the 1st quarter. Renaissance Technologies LLC now owns 92,300 shares of the company’s stock valued at $265,000 after purchasing an additional 79,500 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Assertio by 64.6% in the 1st quarter. Invesco Ltd. now owns 182,970 shares of the company’s stock valued at $525,000 after purchasing an additional 71,829 shares in the last quarter. 33.31% of the stock is currently owned by hedge funds and other institutional investors.

About Assertio

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Assertio Holdings, Inc engages in the provision of commercial pharmaceutical products. Its commercial portfolio of branded products focuses on the following areas: neurology, hospital, and pain and inflammation. The company was founded on August 7, 1995 and is headquartered in Lake Forest, IL.