Andersen Group (NYSE:ANDG) Hits New 52-Week High - Here's Why

Key Points

• Andersen Group shares hit a new 52-week high, reaching $44.56 intraday after closing at $42.81, while the stock was up about 3.4% on the day.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” and an average price target of $39.00, though recent targets have ranged from $27 to $42.
• The company’s latest earnings missed expectations at $0.03 EPS versus $0.11 estimated, even as revenue rose 15.7% year over year to $240.75 million.

Shares of Andersen Group Inc. (NYSE:ANDG - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $44.56 and last traded at $44.0850, with a volume of 125843 shares. The stock had previously closed at $42.81.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ANDG shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $41.00 price target on shares of Andersen Group in a report on Wednesday, May 13th. Weiss Ratings upgraded shares of Andersen Group from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday, June 1st. UBS Group upped their target price on shares of Andersen Group from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Truist Financial lifted their price target on Andersen Group from $32.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Finally, Morgan Stanley boosted their price target on Andersen Group from $24.00 to $27.00 and gave the company an "equal weight" rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Andersen Group currently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Andersen Group Trading Up 3.4%

The firm has a market cap of $5.00 billion and a P/E ratio of 260.52. The firm has a 50 day moving average price of $37.88. The company has a debt-to-equity ratio of 9.72, a current ratio of 2.36 and a quick ratio of 2.36.

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, research analysts expect that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 1,333,749 shares in the company, valued at $53,363,297.49. This represents a 20.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert V. Gunderson, Jr. acquired 2,367 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $35.82 per share, with a total value of $84,785.94. Following the acquisition, the director owned 15,000 shares in the company, valued at $537,300. The trade was 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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN bought a new stake in shares of Andersen Group in the 4th quarter valued at about $46,000. PNC Financial Services Group Inc. bought a new position in Andersen Group during the fourth quarter worth about $215,000. Barclays PLC bought a new position in Andersen Group during the fourth quarter worth about $218,000. Voloridge Investment Management LLC acquired a new position in Andersen Group during the fourth quarter worth approximately $259,000. Finally, XTX Topco Ltd bought a new stake in Andersen Group in the fourth quarter valued at approximately $269,000.

Andersen Group Company Profile

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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