Andersen Group (NYSE:ANDG) Trading Up 8% - Here's What Happened

Key Points

• Shares rose 8% — Andersen Group (NYSE:ANDG) jumped about 8% on Wednesday to roughly $33.74 (trading as high as $33.40) on intraday volume of ~177,955 shares, about 47% below its average daily volume.
• Analyst picture is mixed but positive overall: the consensus rating is a "Moderate Buy" with an average target of $33.33, driven by recent upgrades from Truist, UBS and Robert W. Baird and offset by a sell from Weiss Ratings.
• The company beat expectations last quarter (EPS -$0.13 vs. -$0.28 est., revenue $170.35M vs. $152.64M), and several large institutions — including JPMorgan, J. Goldman, Brown Advisory, Franklin Resources and Royce — established sizable new stakes in Q4.

Andersen Group Inc. (NYSE:ANDG - Get Free Report)'s stock price rose 8% on Wednesday . The company traded as high as $33.40 and last traded at $33.7440. Approximately 177,955 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 336,158 shares. The stock had previously closed at $31.25.

Analyst Upgrades and Downgrades

ANDG has been the subject of a number of research analyst reports. Truist Financial raised shares of Andersen Group to a "strong-buy" rating in a research note on Monday, January 12th. UBS Group boosted their price objective on shares of Andersen Group from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday. Robert W. Baird increased their price objective on Andersen Group from $40.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, March 18th. Weiss Ratings assumed coverage on Andersen Group in a research note on Monday, April 6th. They set a "sell (e)" rating on the stock. Finally, Zacks Research upgraded shares of Andersen Group to a "hold" rating in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Andersen Group Price Performance

The business's 50 day simple moving average is $24.59.

Andersen Group (NYSE:ANDG - Get Free Report) last posted its quarterly earnings data on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.15. The company had revenue of $170.35 million for the quarter, compared to the consensus estimate of $152.64 million.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in shares of Andersen Group in the 4th quarter worth $45,987,000. J. Goldman & Co LP purchased a new position in Andersen Group in the 4th quarter worth approximately $30,079,000. Brown Advisory Inc. bought a new position in Andersen Group during the fourth quarter valued at approximately $29,365,000. Franklin Resources Inc. purchased a new position in Andersen Group in the 4th quarter worth approximately $25,864,000. Finally, Royce & Associates LP purchased a new stake in Andersen Group in the 4th quarter worth approximately $19,948,000.

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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