TSP Capital Management Group LLC Has $227,000 Position in Assertio Holdings, Inc. $ASRT

Key Points

• TSP Capital cut its stake in Assertio by 92.1% in the fourth quarter and now owns 25,056 shares worth about $227,000, representing roughly 0.39% of the company.
• Assertio recently reported results that beat estimates (EPS -$1.86 vs. -$3.05 expected; revenue $13.54M vs. $6.20M expected) but remains unprofitable with negative net margin and return on equity and a market cap near $120M.
• Analyst coverage is mixed—two Buys, one Hold and one Sell—yielding an average rating of "Hold" and an average price target of $35.00; institutional investors own about 48.96% of the stock, with Vanguard holding ~4.43M shares.

TSP Capital Management Group LLC reduced its holdings in Assertio Holdings, Inc. (NASDAQ:ASRT - Free Report) by 92.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,056 shares of the company's stock after selling 291,819 shares during the quarter. TSP Capital Management Group LLC owned about 0.39% of Assertio worth $227,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ASRT. Virtu Financial LLC acquired a new stake in shares of Assertio in the third quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Assertio in the fourth quarter valued at about $41,000. Perritt Capital Management Inc grew its position in shares of Assertio by 51.6% in the third quarter. Perritt Capital Management Inc now owns 350,316 shares of the company's stock valued at $309,000 after purchasing an additional 119,281 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of Assertio by 536.0% in the third quarter. GSA Capital Partners LLP now owns 381,584 shares of the company's stock valued at $336,000 after buying an additional 321,584 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Assertio by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company's stock valued at $3,899,000 after buying an additional 41,332 shares during the period. 48.96% of the stock is owned by institutional investors and hedge funds.

Assertio Stock Performance

Shares of Assertio stock opened at $18.60 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.51. The firm has a market cap of $119.88 million, a P/E ratio of -3.83 and a beta of 0.43. The firm has a 50 day simple moving average of $13.59 and a 200 day simple moving average of $12.30. Assertio Holdings, Inc. has a fifty-two week low of $7.65 and a fifty-two week high of $20.45.

Assertio (NASDAQ:ASRT - Get Free Report) last issued its quarterly earnings results on Monday, March 16th. The company reported ($1.86) earnings per share for the quarter, beating analysts' consensus estimates of ($3.05) by $1.19. The business had revenue of $13.54 million during the quarter, compared to analyst estimates of $6.20 million. Assertio had a negative net margin of 25.59% and a negative return on equity of 30.26%. Sell-side analysts predict that Assertio Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Assertio in a research note on Wednesday, January 21st. Zacks Research cut shares of Assertio from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 6th. HC Wainwright reiterated a "buy" rating and issued a $35.00 target price (up from $3.00) on shares of Assertio in a research note on Monday, January 5th. Finally, Wall Street Zen cut shares of Assertio from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $35.00.

Assertio Profile

Assertio Therapeutics, Inc, formerly known as Depomed, is a specialty pharmaceutical company focused on the development and commercialization of therapies for central nervous system (CNS) disorders, including neuropathic pain, migraine and breakthrough cancer pain. The company's commercial portfolio includes three FDA-approved products—Qutenza (8% capsaicin) for postherpetic neuralgia, Butrans (buprenorphine) transdermal system for chronic pain and Onsolis (fentanyl buccal soluble film) for breakthrough cancer pain—which are marketed primarily in the United States under licensing agreements with global partners.

In addition to its marketed therapies, Assertio maintains a pipeline of preclinical and clinical-stage candidates targeting a range of pain and neurological conditions.

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