Andersen Group (NYSE:ANDG) Hits New 1-Year High - What's Next?

Key Points

• Andersen Group hit a new 52-week high, reaching $48.59 in intraday trading and last trading near $48.33, well above its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating from MarketBeat, though the average price target of $39.00 is below the current share price.
• The company’s latest quarterly results were mixed: revenue rose 15.7% year over year to $240.75 million, but adjusted earnings of $0.03 per share missed estimates of $0.11; insider activity included a director purchase and a major shareholder sale.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $48.59 and last traded at $48.3250, with a volume of 87565 shares. The stock had previously closed at $47.68.

Analyst Upgrades and Downgrades

ANDG has been the subject of a number of recent analyst reports. Truist Financial increased their price objective on Andersen Group from $32.00 to $42.00 and gave the stock a "buy" rating in a report on Wednesday, May 13th. UBS Group increased their price objective on Andersen Group from $34.00 to $42.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $41.00 target price on shares of Andersen Group in a research report on Wednesday, May 13th. Robert W. Baird upped their price target on Andersen Group from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Andersen Group currently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Andersen Group Stock Performance

The stock has a market cap of $5.53 billion and a P/E ratio of 288.12. The firm has a 50 day moving average of $39.85 and a two-hundred day moving average of $31.90. The company has a debt-to-equity ratio of 9.72, a quick ratio of 2.36 and a current ratio of 2.36.

Andersen Group (NYSE:ANDG - Get Free Report) last issued its quarterly 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 firm had revenue of $240.75 million during the quarter. The company's revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts predict that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $35.82 per share, for a total transaction of $84,785.94. Following the transaction, the director directly owned 15,000 shares of the company's stock, valued at approximately $537,300. This trade represents a 18.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total transaction of $13,472,807.36. Following the transaction, the insider owned 1,333,749 shares in the company, valued at approximately $53,363,297.49. The trade was a 20.16% decrease in their position. The SEC filing for this sale provides additional information. 13.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Andersen Group

Several large investors have recently added to or reduced their stakes in ANDG. Teacher Retirement System of Texas acquired a new stake in shares of Andersen Group during the 4th quarter worth approximately $4,278,000. PNC Financial Services Group Inc. acquired a new position in shares of Andersen Group in the fourth quarter valued at $215,000. Royce & Associates LP bought a new position in Andersen Group in the fourth quarter worth $19,948,000. Seven Grand Managers LLC acquired a new stake in Andersen Group during the fourth quarter worth $12,965,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Andersen Group during the fourth quarter worth $10,420,000.

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.

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