Andersen Group (NYSE:ANDG) Hits New 52-Week High - What's Next?

Key Points

• Andersen Group shares reached a new 52-week high, trading as high as $51.44 and last changing hands near $50.80, up from a prior close of $50.16.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $52.17; recent targets range from $49 to $57.
• The company reported quarterly EPS of $(0.09), beating expectations of $(0.16), on revenue of $217.66 million. However, a major shareholder sold 336,736 shares, reducing its stake by 20.16%.

Andersen Group Inc. (NYSE:ANDG - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $51.44 and last traded at $50.7990, with a volume of 83550 shares changing hands. The stock had previously closed at $50.16.

Analysts Set New Price Targets

Several brokerages have recently commented on ANDG. UBS Group boosted their price objective on Andersen Group from $34.00 to $42.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. 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. Truist Financial lifted their target price on shares of Andersen Group from $42.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Wells Fargo & Company boosted their price target on shares of Andersen Group from $38.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Finally, Robert W. Baird increased their price target on shares of Andersen Group from $44.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.17.

Andersen Group Stock Down 0.6%

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 stock has a 50 day moving average price of $42.99 and a 200-day moving average price of $34.40. The stock has a market capitalization of $5.63 billion and a P/E ratio of -94.00.

Andersen Group (NYSE:ANDG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.07. The firm had revenue of $217.66 million for the quarter. As a group, research analysts expect that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Durable Capital Partners Lp sold 336,736 shares of Andersen Group stock in a transaction on Tuesday, July 7th. The shares were 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 in the company, valued at $53,363,297.49. The trade was a 20.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Andersen Group

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

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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