Andersen Group (NYSE:ANDG) Trading Down 8.2% - Here's What Happened

Key Points

• Andersen Group shares fell 8.2% to about $44.98, with trading volume down 88% from the average session. The decline followed a previous close of $49.00.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $52.17. Recent targets range from $49 to $57, including upgrades from Morgan Stanley, Truist Financial, Wells Fargo, and Robert W. Baird.
• The company beat quarterly earnings expectations, reporting a loss of $0.09 per share versus the anticipated $0.16 loss, alongside $217.66 million in revenue. However, its valuation remains elevated, with a P/E ratio of 265.91 and debt-to-equity ratio of 7.82.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) was down 8.2% on Tuesday . The company traded as low as $45.21 and last traded at $44.9770. Approximately 38,962 shares were traded during trading, a decline of 88% from the average session volume of 330,498 shares. The stock had previously closed at $49.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ANDG shares. Morgan Stanley upped their price objective on Andersen Group from $27.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday. Weiss Ratings upgraded Andersen Group from a "sell (e)" rating to a "sell (e+)" rating in a research report on Monday, June 1st. Truist Financial upped their target price on Andersen Group from $42.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Wells Fargo & Company increased their price target on shares of Andersen Group from $38.00 to $49.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Finally, Robert W. Baird boosted their price objective 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 given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.17.

Andersen Group Trading Down 7.7%

The firm's 50 day moving average is $42.09 and its 200 day moving average is $33.68. 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 company has a market capitalization of $5.11 billion and a PE ratio of 265.91.

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

Insider Activity

In related news, 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 $53,363,297.49. The trade was a 20.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert V. Gunderson, Jr. purchased 2,367 shares of Andersen Group stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $35.82 per share, for a total transaction of $84,785.94. Following the acquisition, the director owned 15,000 shares in the company, valued at $537,300. This trade represents a 18.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 13.00% of the company's stock.

Institutional Investors Weigh In On Andersen Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN purchased a new position in shares of Andersen Group during the fourth quarter valued at approximately $46,000. PNC Financial Services Group Inc. purchased a new stake in Andersen Group in the fourth quarter worth $215,000. Barclays PLC bought a new stake in Andersen Group in the fourth quarter valued at $218,000. Voloridge Investment Management LLC bought a new stake in Andersen Group in the fourth quarter valued at $259,000. Finally, XTX Topco Ltd purchased a new position in Andersen Group during the 4th quarter valued at $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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