Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Assertio Holdings, Inc. (NASDAQ:ASRT – Free Report) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,086 shares of the company’s stock after acquiring an additional 20,338 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.39% of Assertio worth $1,376,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Stokes Family Office LLC raised its position in Assertio by 19.5% during the first quarter. Stokes Family Office LLC now owns 16,373 shares of the company’s stock worth $104,000 after acquiring an additional 2,674 shares during the last quarter. Northern Trust Corp raised its position in shares of Assertio by 4.5% in the second quarter. Northern Trust Corp now owns 78,745 shares of the company’s stock valued at $232,000 after buying an additional 3,399 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Assertio by 0.3% in the third quarter. Vanguard Group Inc. now owns 2,111,276 shares of the company’s stock valued at $4,792,000 after buying an additional 5,400 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Assertio by 33.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 21,874 shares of the company’s stock valued at $94,000 after buying an additional 5,443 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Assertio by 126.9% in the fourth quarter. Wells Fargo & Company MN now owns 10,746 shares of the company’s stock valued at $46,000 after buying an additional 6,009 shares during the last quarter. Institutional investors and hedge funds own 49.04% of the company’s stock.
Insider Activity at Assertio
In related news, Director William Mckee sold 22,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $3.14, for a total value of $69,080.00. Following the sale, the director now directly owns 238,780 shares of the company’s stock, valued at $749,769.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.90% of the stock is currently owned by corporate insiders.
Assertio Trading Down 1.3 %
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on ASRT shares. BWS Financial cut their price objective on shares of Assertio from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Lake Street Capital cut their price objective on shares of Assertio from $9.00 to $7.00 in a research report on Friday, August 4th. TheStreet raised shares of Assertio from a “c” rating to a “b-” rating in a research report on Friday, August 4th. Finally, StockNews.com began coverage on shares of Assertio in a research report on Thursday, August 17th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Assertio currently has an average rating of “Moderate Buy” and a consensus target price of $6.50.
Read Our Latest Stock Report on Assertio
About Assertio
Assertio Holdings, Inc, a commercial pharmaceutical company, provides medicines in the areas of neurology, rheumatology, and pain and inflammation. 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.
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