Andersen Group (NYSE:ANDG) Sets New 52-Week High – What’s Next?

Shares of Andersen Group Inc. (NYSE:ANDG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.43 and last traded at $40.6950, with a volume of 685149 shares trading hands. The stock had previously closed at $37.91.

Wall Street Analyst Weigh In

ANDG has been the subject of a number of recent research reports. Robert W. Baird lifted their target price on Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Truist Financial raised their price target on Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Andersen Group from $25.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $41.00 price objective on shares of Andersen Group in a research report on Wednesday, May 13th. Finally, UBS Group raised their target price on shares of Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Andersen Group Stock Up 10.0%

The company has a debt-to-equity ratio of 9.72, a current ratio of 2.36 and a quick ratio of 2.36. The business has a 50 day moving average price of $37.11. The firm has a market capitalization of $4.89 billion and a P/E ratio of 254.88.

Andersen Group (NYSE:ANDG) last posted its 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. The company’s revenue was up 15.7% compared to the same quarter last year. On average, 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, Director Robert V. Gunderson, Jr. acquired 2,367 shares of Andersen Group stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $35.82 per share, with a total value of $84,785.94. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Durable Capital Partners Lp sold 336,736 shares of the company’s 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 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 13.00% of the company’s stock.

Institutional Trading of Andersen Group

Several hedge funds have recently modified their holdings of ANDG. JPMorgan Chase & Co. purchased a new position in shares of Andersen Group in the 4th quarter worth approximately $45,987,000. J. Goldman & Co LP purchased a new stake in Andersen Group during the fourth quarter valued at approximately $30,079,000. Brown Advisory Inc. acquired a new stake in Andersen Group in the fourth quarter valued at approximately $29,365,000. Franklin Resources Inc. acquired a new stake in Andersen Group in the fourth quarter valued at approximately $25,864,000. Finally, Royce & Associates LP purchased a new position in Andersen Group in the fourth quarter worth $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.