Andersen Group (NYSE:ANDG) Reaches New 12-Month High – Still a Buy?

Shares of Andersen Group Inc. (NYSE:ANDG) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $40.23 and last traded at $39.3710, with a volume of 73862 shares changing hands. The stock had previously closed at $40.06.

Wall Street Analyst Weigh In

ANDG has been the topic of several recent research reports. Truist Financial boosted their price target on Andersen Group from $32.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Wells Fargo & Company boosted their price target on Andersen Group from $25.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Morgan Stanley boosted their price target on Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Robert W. Baird boosted their target price on Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $41.00 target price on shares of Andersen Group in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Andersen Group Stock Down 2.8%

The stock’s 50 day moving average is $33.72.

Andersen Group (NYSE:ANDG) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $240.75 million during the quarter. The company’s revenue was up 15.7% compared to the same quarter last year. As a group, analysts predict that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Insider Transactions at Andersen Group

In related news, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $35.82 per share, for a total transaction of $84,785.94. Following the acquisition, the director owned 15,000 shares in the company, valued at approximately $537,300. This trade represents a 18.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Andersen Group

Several large investors have recently modified their holdings of the business. Bank of America Corp DE grew its stake in shares of Andersen Group by 512.0% during the first quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock valued at $350,000 after acquiring an additional 10,752 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Andersen Group during the first quarter valued at about $1,686,000. Sei Investments Co. grew its stake in shares of Andersen Group by 96.3% during the first quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock valued at $3,309,000 after acquiring an additional 59,693 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Andersen Group by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock valued at $3,559,000 after acquiring an additional 1,267 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Andersen Group by 47.0% during the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock valued at $507,000 after acquiring an additional 5,962 shares in the last quarter.

About Andersen Group

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.