Andersen Group (NYSE:ANDG) Shares Up 7.7% – Here’s What Happened

Andersen Group Inc. (NYSE:ANDG)’s stock price shot up 7.7% during trading on Friday . The stock traded as high as $37.56 and last traded at $37.7190. 206,786 shares changed hands during trading, a decline of 33% from the average session volume of 307,213 shares. The stock had previously closed at $35.01.

Analyst Ratings Changes

ANDG has been the subject of a number of recent analyst reports. Robert W. Baird increased their price objective on Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wells Fargo & Company increased their price objective on Andersen Group from $25.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. UBS Group increased their price objective on Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Truist Financial increased their price objective on Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $41.00 price objective on shares of Andersen Group in a report on Wednesday, May 13th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, Andersen Group currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Andersen Group Price Performance

The business has a fifty day moving average of $34.77.

Andersen Group (NYSE:ANDG) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (EPS) 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 business’s quarterly revenue was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Andersen Group Inc. will post 0.73 EPS for the current year.

Insider Transactions at Andersen Group

In other news, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $35.82 per share, with a total value of $84,785.94. Following the purchase, the director owned 15,000 shares in the company, valued at $537,300. This trade represents a 18.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hedge Funds Weigh In On Andersen Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANDG. Wells Fargo & Company MN bought a new position in Andersen Group during the 4th quarter valued at $46,000. PNC Financial Services Group Inc. bought a new position in Andersen Group during the 4th quarter valued at $215,000. Barclays PLC bought a new position in Andersen Group during the 4th quarter valued at $218,000. Voloridge Investment Management LLC bought a new position in Andersen Group during the 4th quarter valued at $259,000. Finally, XTX Topco Ltd acquired a new stake in shares of Andersen Group during the 4th quarter valued at $269,000.

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.