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

Andersen Group Inc. (NYSE:ANDG)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $48.59 and last traded at $48.3250, with a volume of 87565 shares traded. The stock had previously closed at $47.68.

Analyst Ratings Changes

A number of analysts recently weighed in on ANDG shares. Morgan Stanley upped their target price on shares of Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on Andersen Group from $25.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. UBS Group upped their price objective on Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Truist Financial increased their target price on Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, Robert W. Baird raised their target price on Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. One research 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 given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Andersen Group Trading Up 2.8%

The firm has a market cap of $5.53 billion and a P/E ratio of 288.12. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 9.72. The company’s fifty day moving average price is $39.85 and its two-hundred day moving average price is $31.90.

Andersen Group (NYSE:ANDG) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $240.75 million for the quarter. Andersen Group’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity at Andersen Group

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of Andersen Group stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $13,472,807.36. Following the completion of the transaction, the insider owned 1,333,749 shares in the company, valued at approximately $53,363,297.49. The trade was a 20.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert V. Gunderson, Jr. acquired 2,367 shares of Andersen Group stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $35.82 per share, for a total transaction of $84,785.94. Following the purchase, the director owned 15,000 shares of the company’s stock, valued at approximately $537,300. This represents a 18.74% increase in their position. The SEC filing for this purchase provides additional information. 13.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Andersen Group

A number of hedge funds have recently added to or reduced their stakes in ANDG. Bank of America Corp DE lifted its position in shares of Andersen Group by 512.0% during the first quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock worth $350,000 after purchasing an additional 10,752 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Andersen Group in the 1st quarter valued at $1,686,000. Sei Investments Co. increased its stake in shares of Andersen Group by 96.3% in 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 during the period. Allspring Global Investments Holdings LLC raised its position in shares of Andersen Group by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock worth $3,559,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Andersen Group by 47.0% during the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock valued at $507,000 after acquiring an additional 5,962 shares during the period.

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.