Andersen Group (NYSE:ANDG) Sets New 1-Year High – Here’s Why

Andersen Group Inc. (NYSE:ANDG – Get Free Report) shares reached a new 52-week high during trading on Thursday. The company traded as high as $57.76 and last traded at $57.39, with a volume of 271478 shares. The stock had previously closed at $54.40.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets began coverage on Andersen Group in a research note on Tuesday, September 8th. They set a “market perform” rating and a $58.00 price target for the company. Morgan Stanley increased their price objective on shares of Andersen Group from $27.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Robert W. Baird lifted their target price on shares of Andersen Group from $57.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Weiss Ratings raised shares of Andersen Group from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, September 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $56.00 price objective on shares of Andersen Group in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Check Out Our Latest Stock Report on ANDG

Andersen Group Trading Down 0.8%

The business’s 50-day moving average price is $52.09 and its two-hundred day moving average price is $41.16. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market cap of $6.43 billion and a price-to-earnings ratio of -107.33.

Andersen Group (NYSE:ANDG – Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $217.66 million for the quarter. Equities analysts expect that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $13,472,807.36. Following the sale, the insider owned 1,333,749 shares in the company, valued at $53,363,297.49. This trade represents a 20.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new stake in Andersen Group in the second quarter valued at approximately $592,000. Corient Private Wealth LP boosted its holdings in shares of Andersen Group by 67.2% in the 2nd quarter. Corient Private Wealth LP now owns 23,005 shares of the company’s stock valued at $868,000 after purchasing an additional 9,245 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Andersen Group by 512.0% during the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock valued at $350,000 after buying an additional 10,752 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Andersen Group during the 1st quarter worth $1,686,000. Finally, Sei Investments Co. raised its position in shares of Andersen Group by 96.3% in the 1st quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock worth $3,309,000 after buying an additional 59,693 shares during the period.

About Andersen Group

(Get Free Report)

Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions. Building on the rich traditions and culture of the former Arthur Andersen, we are driven by a bold vision to lead in a complex global marketplace, creating lasting value for our clients, our people and our investors.

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