Assertio Holdings, Inc. (NASDAQ:ASRT) has reported a recent transaction by Director James L. Tyree, who sold a total of 10,251 shares of the company's common stock. The transaction took place on March 14, 2024, with the shares being sold at a weighted average price of $1.1182, amounting to a total value of $11,462.
The shares were sold in multiple transactions at prices ranging from $1.08 to $1.15 per share. Following this sale, Director Tyree's ownership in Assertio Holdings stands at 188,251 shares of common stock, directly held.
This transaction was publicly disclosed as per regulatory requirements and provides investors with recent trading activity by a key insider of Assertio Holdings. The company, which operates in the pharmaceutical preparations industry, is incorporated in Delaware and has its business address in Lake Forest, Illinois.
Investors and analysts often monitor insider transactions as they can provide insights into a company's financial health and future prospects. The sale by Director Tyree offers a glimpse into the trading behavior of Assertio's insiders, which can sometimes serve as an indicator of the company's performance expectations.
Assertio Holdings has not provided any specific reasons for Director Tyree's sale of shares, and it remains one of several factors that investors may consider when evaluating their investment in the company.
InvestingPro Insights
Assertio Holdings, Inc. (NASDAQ:ASRT) has seen notable insider activity, which can be a strong indicator of a company's future direction. With Director James L. Tyree's recent sale of shares, investors might be curious about the current financial standing and market sentiment surrounding ASRT. Here are some insights based on the latest data and InvestingPro Tips:
InvestingPro Data shows that Assertio Holdings has a market capitalization of approximately $106.4 million. Despite a challenging period, with a revenue decline of 2.67% over the last twelve months as of Q4 2023, the company has maintained a high gross profit margin of 82.23%. These figures highlight the company's ability to retain a significant portion of its revenue as gross profit, which is a positive sign for potential cost management and pricing power.
InvestingPro Tips suggest that Assertio Holdings is trading at a low revenue valuation multiple and holds more cash than debt on its balance sheet, which may provide some financial stability. However, analysts are not expecting the company to be profitable this year, and they anticipate a sales decline in the current year. Additionally, the stock has experienced a significant return over the last week and month, with price total returns of 22.85% and 31.07%, respectively, signaling a potential shift in investor sentiment.
For investors seeking more comprehensive insights, there are 12 additional InvestingPro Tips available on Assertio Holdings at https://www.investing.com/pro/ASRT. These tips could further guide investment decisions, especially considering the recent insider trading activity.
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