Andersen Group (NYSE:ANDG) Sees Large Volume Increase – Here’s What Happened

Andersen Group Inc. (NYSE:ANDG) shares saw strong trading volume on Friday . Approximately 532,956 shares changed hands during trading, an increase of 48% from the previous session’s volume of 360,144 shares.The stock last traded at $56.3060 and had previously closed at $57.45.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Andersen Group in a research report on Thursday, August 27th. Truist Financial lifted their target price on Andersen Group from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Morgan Stanley upped their price objective on shares of Andersen Group from $27.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Wells Fargo & Company boosted their target price on Andersen Group from $38.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Finally, Robert W. Baird increased their price target on Andersen Group from $57.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Andersen Group has a consensus rating of “Moderate Buy” and a consensus target price of $53.33.

Andersen Group Price Performance

The business has a 50 day simple moving average of $46.18 and a 200-day simple moving average of $36.57. The company has a debt-to-equity ratio of 7.82, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a market cap of $6.39 billion and a P/E ratio of -106.64.

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

Insider Transactions at Andersen Group

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $13,472,807.36. Following the sale, the insider directly owned 1,333,749 shares of the company’s stock, valued at approximately $53,363,297.49. This represents a 20.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.00% of the company’s stock.

Hedge Funds Weigh In On Andersen Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of Andersen Group during the first quarter worth approximately $1,686,000. Sei Investments Co. increased its position in Andersen Group by 96.3% during the 1st quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock valued at $3,309,000 after buying an additional 59,693 shares in the last quarter. Seven Grand Managers LLC purchased a new position in Andersen Group in the fourth quarter worth about $12,965,000. Royce & Associates LP purchased a new stake in shares of Andersen Group during the fourth quarter valued at $19,948,000. Finally, Telemark Asset Management LLC purchased a new stake in Andersen Group during the fourth quarter valued at $2,593,000.

Andersen Group Company Profile

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.