Andersen Group (NYSE:ANDG) Sees Strong Trading Volume – Should You Buy?

Andersen Group Inc. (NYSE:ANDG) saw strong trading volume on Thursday . 919,518 shares changed hands during mid-day trading, an increase of 174% from the previous session’s volume of 335,098 shares.The stock last traded at $47.80 and had previously closed at $45.02.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Truist Financial increased their target price on shares of Andersen Group from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings raised shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Robert W. Baird upped their price target on shares of Andersen Group from $44.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. UBS Group raised their price objective 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. Finally, Wells Fargo & Company boosted their target price on shares of Andersen Group from $38.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. One investment 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 given a Sell rating to the company’s stock. According to data from MarketBeat, Andersen Group has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Andersen Group Price Performance

The business has a fifty day moving average of $42.99 and a 200-day moving average of $34.31. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.82. The firm has a market cap of $5.68 billion and a PE ratio of -94.79.

Andersen Group (NYSE:ANDG) last posted its earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $217.66 million for the quarter. As a group, research analysts predict that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.00% of the company’s stock.

Institutional Inflows and Outflows

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