Jane Street Group LLC Decreases Stock Position in Assertio Holdings, Inc. (NASDAQ:ASRT)

Jane Street Group LLC cut its holdings in Assertio Holdings, Inc. (NASDAQ:ASRT) by 68.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 128,684 shares of the company’s stock after selling 277,889 shares during the quarter. Jane Street Group LLC’s holdings in Assertio were worth $152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in Assertio by 304.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after buying an additional 38,000 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Assertio in the second quarter worth about $77,000. Point72 DIFC Ltd purchased a new position in shares of Assertio in the second quarter worth about $40,000. Renaissance Technologies LLC raised its stake in shares of Assertio by 13.7% in the second quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock worth $2,948,000 after purchasing an additional 285,655 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Assertio in the second quarter worth about $149,000. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

Assertio Stock Down 3.5 %

Shares of ASRT stock opened at $0.81 on Tuesday. The stock has a 50 day moving average of $0.91 and a 200 day moving average of $1.14. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The stock has a market cap of $77.04 million, a P/E ratio of -1.11 and a beta of 0.78. Assertio Holdings, Inc. has a twelve month low of $0.73 and a twelve month high of $1.80.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. The company had revenue of $29.20 million during the quarter, compared to analysts’ expectations 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 last year, the business earned ($0.01) earnings per share. As a group, sell-side analysts expect that Assertio Holdings, Inc. will post -0.15 EPS for the current year.

Insider Activity at Assertio

In other Assertio news, Director Heather L. Mason acquired 75,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $0.80 per share, with a total value of $60,000.00. Following the completion of the acquisition, the director now owns 287,650 shares in the company, valued at approximately $230,120. This trade represents a 35.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Assertio in a research note on Monday, December 16th. StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

About Assertio

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.