Andersen Group (NYSE:ANDG) Major Shareholder Durable Capital Partners Lp Sells 336,736 Shares of Stock

Key Points

• Durable Capital Partners, Andersen Group’s major shareholder, sold 336,736 shares at an average price of $40.01, trimming its stake by about 20.16% and generating roughly $13.47 million.
• Andersen Group shares rose to $43.33 in Thursday trading, near their 52-week high of $43.55, giving the company a market cap of $4.89 billion.
• The company recently reported Q1 earnings of $0.03 per share, missing analyst expectations, even as revenue increased 15.7% year over year to $240.75 million.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) major shareholder Durable Capital Partners Lp sold 336,736 shares of Andersen Group stock in a transaction dated 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 completion of the transaction, the insider directly owned 1,333,749 shares in the company, valued at $53,363,297.49. This represents a 20.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Andersen Group Stock Performance

Shares of NYSE:ANDG traded up $3.93 during trading on Thursday, reaching $43.33. 481,291 shares of the stock were exchanged, compared to its average volume of 327,689. The company has a 50-day moving average price of $36.95. The firm has a market capitalization of $4.89 billion and a price-to-earnings ratio of 254.88. Andersen Group Inc. has a 12-month low of $18.12 and a 12-month high of $43.55. 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 posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The company had revenue of $240.75 million for the quarter. Andersen Group's revenue was up 15.7% on a year-over-year basis. As a group, equities research analysts forecast that Andersen Group Inc. will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Andersen Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company's stock valued at $3,559,000 after purchasing an additional 1,267 shares in the last quarter. Wells Fargo & Company MN acquired a new stake in shares of Andersen Group during the fourth quarter worth approximately $46,000. Bank of New York Mellon Corp increased its stake in shares of Andersen Group by 47.0% in the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company's stock worth $507,000 after buying an additional 5,962 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Andersen Group in the fourth quarter worth $215,000. Finally, Barclays PLC acquired a new stake in Andersen Group in the fourth quarter valued at $218,000.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $41.00 target price on shares of Andersen Group in a report on Wednesday, May 13th. Robert W. Baird raised their price objective on Andersen Group from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Truist Financial boosted their price objective on Andersen Group from $32.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Weiss Ratings raised Andersen Group from a "sell (e)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. Finally, Morgan Stanley increased their target price on Andersen Group from $24.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $39.00.

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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