Andersen Group (NYSE:ANDG) Sees Strong Trading Volume - Here's What Happened

Key Points

• Andersen Group shares rose 8.0% to $47.80, with trading volume surging 174% to 919,518 shares from the prior session.
• Analysts raised their price targets, including Robert W. Baird at $57 and Deutsche Bank at $56. The stock carries a “Moderate Buy” consensus rating with an average target of $52.17.
• The company reported quarterly EPS of -$0.09, beating estimates of -$0.16, on revenue of $217.66 million; a major shareholder separately sold 336,736 shares valued at about $13.5 million.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) saw unusually-high trading volume on Thursday . 919,518 shares traded hands during trading, an increase of 174% from the previous session's volume of 335,098 shares.The stock last traded at $47.80 and had previously closed at $45.02.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ANDG. Truist Financial boosted their target price on Andersen Group from $42.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Wells Fargo & Company boosted their price objective on shares of Andersen Group from $38.00 to $49.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of Andersen Group from a "sell (e)" rating to a "sell (e+)" rating in a research note on Monday, June 1st. Robert W. Baird lifted their target price on shares of Andersen Group from $44.00 to $57.00 and gave the company an "outperform" rating in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $56.00 price target on shares of Andersen Group in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.17.

Andersen Group Stock Up 8.0%

The stock has a market capitalization of $5.49 billion and a PE ratio of -91.70. The firm has a 50 day moving average of $42.44 and a two-hundred day moving average of $34.01. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.82.

Andersen Group (NYSE:ANDG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.07. The business had revenue of $217.66 million during the quarter. Equities research analysts anticipate that Andersen Group Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of Andersen Group stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $40.01, for a total value of $13,472,807.36. Following the completion of the sale, the insider owned 1,333,749 shares of the company's stock, valued at $53,363,297.49. The trade was a 20.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ANDG. Wells Fargo & Company MN acquired a new stake in shares of Andersen Group in the fourth quarter valued at about $46,000. PNC Financial Services Group Inc. purchased a new position in Andersen Group in the 4th quarter worth approximately $215,000. Barclays PLC purchased a new position in Andersen Group in the 4th quarter worth approximately $218,000. Voloridge Investment Management LLC acquired a new stake in Andersen Group in the fourth quarter valued at approximately $259,000. Finally, XTX Topco Ltd purchased a new stake in shares of Andersen Group during the fourth quarter valued at approximately $269,000.

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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