Andersen Group (NYSE:ANDG) Shares Gap Down – Here’s What Happened

Andersen Group Inc. (NYSE:ANDG) shares gapped down before the market opened on Friday. The stock had previously closed at $65.42, but opened at $62.82. Andersen Group shares last traded at $63.3840, with a volume of 282,706 shares trading hands.

Key Headlines Impacting Andersen Group

These are some of the ANDG headlines that stood out recently:

• Positive Sentiment: Baird raised its price target to $71 from $64 and maintained an “outperform” rating, implying substantial upside from the cited share price. Baird raises Andersen price target
• Neutral Sentiment: Wells Fargo raised its target to $61 from $49 but kept an “equal weight” rating, indicating a more cautious view and limited upside at the referenced price. Wells Fargo analyst recommendations
• Neutral Sentiment: Overall, the earnings and outlook news are favorable, but the provided headlines do not explain why investors have been selling the stock or provide a clear near-term downside catalyst.

Wall Street Analyst Weigh In

ANDG has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of Andersen Group from $64.00 to $71.00 and gave the company an “outperform” rating in a report on Friday. Weiss Ratings raised shares of Andersen Group from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, September 24th. Deutsche Bank reiterated a “buy” rating and issued a $56.00 price target on shares of Andersen Group in a report on Friday, August 14th. Wells Fargo & Company increased their price objective on Andersen Group from $49.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, 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 report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.86.

Andersen Group Stock Performance

The company has a market cap of $6.79 billion and a P/E ratio of -72.40. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19. The business has a 50-day moving average of $58.93 and a two-hundred day moving average of $41.25.

Andersen Group (NYSE:ANDG) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. Andersen Group had a negative net margin of 1.22% and a negative return on equity of 5.49%. The firm had revenue of $217.66 million during the quarter. On average, sell-side analysts predict that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Andersen Group

Large investors have recently made changes to their positions in the business. First Trust Advisors LP grew its stake in Andersen Group by 334.7% during the 3rd quarter. First Trust Advisors LP now owns 186,858 shares of the company’s stock worth $10,165,000 after buying an additional 143,869 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Andersen Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock worth $3,559,000 after buying an additional 1,267 shares during the period. Sei Investments Co. raised its position in Andersen Group by 96.3% during the 1st quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock worth $3,309,000 after buying an additional 59,693 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Andersen Group during the 1st quarter worth approximately $1,686,000. Finally, Marshall Wace LLP raised its position in Andersen Group by 17.3% during the 3rd quarter. Marshall Wace LLP now owns 45,570 shares of the company’s stock worth $2,479,000 after buying an additional 6,722 shares during the last quarter.

Andersen Group Company Profile

Andersen Group is a professional services firm providing tax, legal, valuation, financial advisory and consulting services to individuals, families and businesses. Its work includes tax planning and compliance, business and transaction advisory, and legal and valuation support. The firm traces its origins to WTAS, established in 2002 by former Arthur Andersen professionals. It later adopted the Andersen name and developed an international presence through the Andersen network of affiliated firms.