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

Andersen Group Inc. (NYSE:ANDG) shares reached a new 52-week high on Friday . The company traded as high as $44.56 and last traded at $44.0850, with a volume of 125843 shares changing hands. The stock had previously closed at $42.81.

Analyst Ratings Changes

ANDG has been the topic of a number of research reports. UBS Group upped their price target on shares of Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Wells Fargo & Company upped their target price 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 lifted their price target on Andersen Group from $24.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 13th. Weiss Ratings raised Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Robert W. Baird upped their price target on shares of Andersen Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One research 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 given a Sell rating to the company. According to MarketBeat.com, Andersen Group presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Andersen Group Stock Performance

The business’s fifty day simple moving average is $37.88. The company has a market capitalization of $5.00 billion and a PE ratio of 260.52. The company has a debt-to-equity ratio of 9.72, a current ratio of 2.36 and a quick 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 (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $240.75 million during 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 anticipate that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other news, Director Robert V. Gunderson, Jr. bought 2,367 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $35.82 per share, with a total value of $84,785.94. Following the acquisition, the director directly owned 15,000 shares in the company, valued at $537,300. This represents a 18.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 1,333,749 shares of the company’s stock, valued at $53,363,297.49. The trade was a 20.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

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

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.