Royce & Associates LP Sells 418,520 Shares of Andersen Group Inc. $ANDG

Royce & Associates LP trimmed its position in Andersen Group Inc. (NYSE:ANDG) by 36.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 719,066 shares of the company’s stock after selling 418,520 shares during the quarter. Royce & Associates LP’s holdings in Andersen Group were worth $39,117,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vise Technologies Inc. purchased a new stake in shares of Andersen Group in the third quarter worth about $528,000. GAMMA Investing LLC grew its holdings in Andersen Group by 353.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,498 shares of the company’s stock valued at $81,000 after buying an additional 1,168 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Andersen Group during the 2nd quarter valued at approximately $592,000. Corient Private Wealth LP increased its stake in Andersen Group by 67.2% in the 2nd quarter. Corient Private Wealth LP now owns 23,005 shares of the company’s stock worth $868,000 after acquiring an additional 9,245 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Andersen Group by 512.0% in the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock worth $350,000 after acquiring an additional 10,752 shares during the last quarter.

Andersen Group Price Performance

Shares of NYSE ANDG traded down $5.33 during mid-day trading on Friday, hitting $60.09. 1,027,719 shares of the company’s stock traded hands, compared to its average volume of 496,933. The company’s 50-day moving average is $58.93 and its two-hundred day moving average is $41.25. 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 company has a market capitalization of $6.79 billion and a P/E ratio of -72.40. Andersen Group Inc. has a 1 year low of $18.12 and a 1 year high of $68.41.

Andersen Group (NYSE:ANDG) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The firm had revenue of $217.66 million during the quarter. Andersen Group had a negative net margin of 1.22% and a negative return on equity of 5.49%. On average, equities analysts anticipate that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Recent Andersen Group Headlines

These are some of the ANDG headlines that stood out recently:

• Positive Sentiment: Baird raised its price target to $71 from $64 and maintained an “outperform” rating, implying substantial upside from the cited share price. Baird raises Andersen price target
• Neutral Sentiment: Wells Fargo raised its target to $61 from $49 but kept an “equal weight” rating, indicating a more cautious view and limited upside at the referenced price. Wells Fargo analyst recommendations
• Neutral Sentiment: Overall, the earnings and outlook news are favorable, but the provided headlines do not explain why investors have been selling the stock or provide a clear near-term downside catalyst.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ANDG shares. BMO Capital Markets assumed coverage on Andersen Group in a report on Tuesday, September 8th. They set a “market perform” rating and a $58.00 price objective on the stock. Truist Financial increased their target price on Andersen Group from $55.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 25th. Robert W. Baird raised their target price on shares of Andersen Group from $64.00 to $71.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley boosted their price target on shares of Andersen Group from $27.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Andersen Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Andersen Group has a consensus rating of “Moderate Buy” and a consensus price target of $58.86.

Andersen Group Profile

Andersen Group is a professional services firm providing tax, legal, valuation, financial advisory and consulting services to individuals, families and businesses. Its work includes tax planning and compliance, business and transaction advisory, and legal and valuation support. The firm traces its origins to WTAS, established in 2002 by former Arthur Andersen professionals. It later adopted the Andersen name and developed an international presence through the Andersen network of affiliated firms.