Andersen Group (NYSE:ANDG) Shares Down 8.2% – What’s Next?

Andersen Group Inc. (NYSE:ANDG) shares were down 8.2% on Tuesday . The company traded as low as $45.21 and last traded at $44.9770. 38,962 shares were traded during trading, a decline of 88% from the average daily volume of 330,498 shares. The stock had previously closed at $49.00.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ANDG shares. Weiss Ratings raised shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Morgan Stanley lifted their price objective on Andersen Group from $27.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday. Wells Fargo & Company upped their target price on Andersen Group from $38.00 to $49.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Truist Financial increased their target price on Andersen Group from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, UBS Group raised their target price on Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Andersen Group Stock Down 7.7%

The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.82. The company’s fifty day moving average price is $42.09 and its 200-day moving average price is $33.68. The stock has a market capitalization of $5.11 billion and a PE ratio of 265.91.

Andersen Group (NYSE:ANDG) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $217.66 million during the quarter. Analysts forecast that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert V. Gunderson, Jr. purchased 2,367 shares of Andersen Group stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $35.82 per share, with a total value of $84,785.94. Following the completion of the acquisition, the director directly owned 15,000 shares of the company’s stock, valued at approximately $537,300. This represents a 18.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 13.00% of the company’s stock.

Institutional Trading of Andersen Group

A number of institutional investors and hedge funds have recently bought and sold shares of ANDG. JPMorgan Chase & Co. bought a new stake in Andersen Group during the 4th quarter valued at about $45,987,000. J. Goldman & Co LP purchased a new stake in shares of Andersen Group during the fourth quarter valued at approximately $30,079,000. Brown Advisory Inc. purchased a new stake in shares of Andersen Group during the fourth quarter valued at approximately $29,365,000. Franklin Resources Inc. bought a new stake in shares of Andersen Group during the fourth quarter valued at approximately $25,864,000. Finally, Royce & Associates LP purchased a new position in Andersen Group in the 4th quarter worth approximately $19,948,000.

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.