Andersen Group (NYSE:ANDG) Sets New 1-Year High – What’s Next?

Shares of Andersen Group Inc. (NYSE:ANDG) reached a new 52-week high on Monday . The stock traded as high as $45.23 and last traded at $44.8250, with a volume of 154032 shares. The stock had previously closed at $42.82.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ANDG shares. Weiss Ratings upgraded shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Truist Financial raised their price target on shares of Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Morgan Stanley lifted their price objective on shares of Andersen Group from $24.00 to $27.00 and gave the company 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 company a “buy” rating in a report on Thursday, May 14th. Finally, Robert W. Baird raised their price target on Andersen Group from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Andersen Group has an average rating of “Moderate Buy” and an average target price of $39.00.

Andersen Group Trading Up 6.2%

The stock has a 50-day simple moving average of $38.75. The stock has a market cap of $5.14 billion and a price-to-earnings ratio of 263.29. The company has a debt-to-equity ratio of 9.72, a quick ratio of 2.36 and a current ratio of 2.36.

Andersen Group (NYSE:ANDG) last released its 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 for the quarter. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, equities analysts expect that Andersen Group Inc. will post 0.73 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert V. Gunderson, Jr. purchased 2,367 shares of Andersen Group stock in a transaction dated 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 transaction, the director directly owned 15,000 shares of the company’s stock, valued at approximately $537,300. This trade represents a 18.74% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Durable Capital Partners Lp sold 336,736 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were 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 of the company’s stock, valued at $53,363,297.49. This represents a 20.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 13.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN bought a new stake in Andersen Group in the 4th quarter worth about $46,000. PNC Financial Services Group Inc. purchased a new stake in shares of Andersen Group during the 4th quarter valued at about $215,000. Barclays PLC bought a new stake in shares of Andersen Group in the fourth quarter worth approximately $218,000. Voloridge Investment Management LLC purchased a new position in shares of Andersen Group during the fourth quarter valued at approximately $259,000. Finally, XTX Topco Ltd bought a new position in Andersen Group during the fourth quarter valued at approximately $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.