Assertio Holdings, Inc. (NASDAQ:ASRT) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of Assertio Holdings, Inc. (NASDAQ:ASRT) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 431,913 shares of the company’s stock after buying an additional 21,976 shares during the period. Empowered Funds LLC owned about 0.45% of Assertio worth $510,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ASRT. SummerHaven Investment Management LLC raised its position in shares of Assertio by 10.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock valued at $200,000 after acquiring an additional 15,779 shares in the last quarter. Palumbo Wealth Management LLC increased its position in Assertio by 9.3% during the third quarter. Palumbo Wealth Management LLC now owns 185,961 shares of the company’s stock worth $219,000 after buying an additional 15,863 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Assertio during the 2nd quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Assertio by 304.0% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock worth $60,000 after acquiring an additional 38,000 shares during the period. Finally, Vanguard Group Inc. raised its stake in Assertio by 0.8% during the first quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock worth $4,719,000 after acquiring an additional 41,071 shares in the last quarter. 48.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Assertio

In other news, Director Heather L. Mason purchased 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the director now directly owns 287,650 shares of the company’s stock, valued at $230,120. This trade represents a 35.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

Assertio Price Performance

Shares of NASDAQ ASRT opened at $0.94 on Monday. Assertio Holdings, Inc. has a fifty-two week low of $0.73 and a fifty-two week high of $1.80. The stock has a market capitalization of $89.83 million, a PE ratio of -1.29 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. The business has a fifty day moving average price of $1.08 and a two-hundred day moving average price of $1.17.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings data on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $29.20 million for the quarter, compared to analyst estimates of $29.29 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same period in the previous year, the firm earned ($0.01) earnings per share. As a group, equities analysts predict that Assertio Holdings, Inc. will post -0.17 earnings per share for the current fiscal year.

Assertio Profile

Assertio Holdings, Inc, a commercial pharmaceutical company, provides various products to patients in the United States. Its pharmaceutical products include INDOCIN, an oral and suppository solution 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.