Andersen Group (NYSE:ANDG) Reaches New 52-Week High – Here’s What Happened

Andersen Group Inc. (NYSE:ANDG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.44 and last traded at $50.7990, with a volume of 83550 shares trading hands. The stock had previously closed at $50.16.

Analysts Set New Price Targets

A number of research firms recently weighed in on ANDG. Truist Financial boosted their price target on shares of Andersen Group from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. 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. Robert W. Baird lifted their target price on shares of Andersen Group from $44.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price target on Andersen Group from $38.00 to $49.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Finally, Morgan Stanley raised their price target on Andersen Group from $27.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Andersen Group has a consensus rating of “Moderate Buy” and an average price target of $52.17.

Andersen Group Price Performance

The company’s 50-day moving average price is $43.54 and its 200-day moving average price is $34.82. The company has a market cap of $5.89 billion and a P/E ratio of -98.34. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19.

Andersen Group (NYSE:ANDG) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.07. The firm had revenue of $217.66 million during the quarter. As a group, sell-side analysts predict that Andersen Group Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Andersen Group

In related news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the 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 completion of the transaction, the insider owned 1,333,749 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. 13.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Andersen Group

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