Andersen Group (NYSE:ANDG) Reaches New 1-Year High – Here’s What Happened
by Michael Walen · The Markets DailyAndersen Group Inc. (NYSE:ANDG – Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $48.59 and last traded at $48.3250, with a volume of 87565 shares trading hands. The stock had previously closed at $47.68.
Wall Street Analyst Weigh In
ANDG has been the topic of a number of research reports. Wells Fargo & Company boosted their price target on Andersen Group from $25.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. Morgan Stanley lifted their target price on Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. UBS Group upped their price target on Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 price objective on shares of Andersen Group in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.
Check Out Our Latest Stock Analysis on ANDG
Andersen Group Price Performance
The company has a debt-to-equity ratio of 9.72, a quick ratio of 2.36 and a current ratio of 2.36. The company has a fifty day moving average price of $40.30 and a two-hundred day moving average price of $32.21. The company has a market cap of $5.63 billion and a P/E ratio of 293.03.
Andersen Group (NYSE:ANDG – Get Free Report) 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 company had revenue of $240.75 million during the quarter. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Andersen Group Inc. will post 0.73 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 business’s 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 transaction, the insider directly owned 1,333,749 shares in the company, valued at approximately $53,363,297.49. The trade was a 20.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $35.82 per share, for a total transaction of $84,785.94. Following the completion of the transaction, 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 position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 13.00% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN acquired a new stake in Andersen Group in the 4th quarter valued at about $46,000. PNC Financial Services Group Inc. acquired a new position in shares of Andersen Group during the 4th quarter worth approximately $215,000. Barclays PLC bought a new stake in Andersen Group in the 4th quarter valued at $218,000. Voloridge Investment Management LLC acquired a new stake in Andersen Group during the 4th quarter valued at $259,000. Finally, XTX Topco Ltd acquired a new stake in Andersen Group during the 4th quarter valued at $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.