Andersen Group Inc. $ANDG Stock Sold by Royce & Associates LP

Key Points

• Royce & Associates cut its Andersen Group stake by 36.8% in the third quarter, selling 418,520 shares; it retained 719,066 shares valued at about $39.1 million.
• Institutional investors showed mixed activity: several firms added to or initiated positions, including GAMMA Investing, which increased its holding by 353.9%.
• Analyst views were generally positive but mixed: MarketBeat reported a “Moderate Buy” consensus and an average price target of $58.86, while ANDG recently traded at $60.09.

Royce & Associates LP cut its stake in shares of Andersen Group Inc. (NYSE:ANDG - Free Report) by 36.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 719,066 shares of the company's stock after selling 418,520 shares during the period. Royce & Associates LP owned about 0.64% of Andersen Group worth $39,117,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Andersen Group by 353.9% in the third quarter. GAMMA Investing LLC now owns 1,498 shares of the company's stock worth $81,000 after buying an additional 1,168 shares in the last quarter. Vise Technologies Inc. bought a new position in shares of Andersen Group in the third quarter worth about $528,000. Bank of America Corp DE lifted its position in shares of Andersen Group by 512.0% during the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company's stock valued at $350,000 after buying an additional 10,752 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Andersen Group during the 2nd quarter valued at about $592,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Andersen Group by 47.0% during the 1st quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company's stock valued at $507,000 after buying an additional 5,962 shares in the last quarter.

Andersen Group Price Performance

ANDG traded down $5.33 during trading on Friday, reaching $60.09. 1,027,719 shares of the company traded hands, compared to its average volume of 496,933. The company has a market cap of $6.79 billion and a P/E ratio of -72.40. The company has a debt-to-equity ratio of 7.82, a quick ratio of 2.19 and a current ratio of 2.19. Andersen Group Inc. has a 12-month low of $18.12 and a 12-month high of $68.41. The firm has a fifty day simple moving average of $58.93 and a 200 day simple moving average of $41.25.

Andersen Group (NYSE:ANDG - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.07. Andersen Group had a negative net margin of 1.22% and a negative return on equity of 5.49%. The firm had revenue of $217.66 million for the quarter. On average, equities analysts forecast that Andersen Group Inc. will post 0.73 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Andersen Group from $55.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, September 25th. BMO Capital Markets began coverage on Andersen Group in a research note on Tuesday, September 8th. They issued a "market perform" rating and a $58.00 price target for the company. Wells Fargo & Company raised their price target on Andersen Group from $49.00 to $61.00 and gave the company an "equal weight" rating in a report on Friday. Deutsche Bank restated a "buy" rating and issued a $56.00 price objective on shares of Andersen Group in a research report on Friday, August 14th. Finally, Morgan Stanley boosted their price objective on Andersen Group from $27.00 to $54.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.86.

Key Andersen Group News

Here's some of the latest news about ANDG:

• Positive Sentiment: Third-quarter revenue rose 18.7% to $337.3 million. The company reported EPS of $7.13, above the $0.90 consensus estimate. Andersen Group Reports Third Quarter Revenue Growth of 18.7%
• Neutral Sentiment: Wells Fargo raised its target to $61 from $49 but kept an “equal weight” rating, indicating a more cautious view and limited upside at the referenced price. Wells Fargo analyst recommendations
• Neutral Sentiment: Overall, the earnings and outlook news are favorable, but the provided headlines do not explain why investors have been selling the stock or provide a clear near-term downside catalyst.

Andersen Group Profile

Andersen Group is a professional services firm providing tax, legal, valuation, financial advisory and consulting services to individuals, families and businesses. Its work includes tax planning and compliance, business and transaction advisory, and legal and valuation support. The firm traces its origins to WTAS, established in 2002 by former Arthur Andersen professionals. It later adopted the Andersen name and developed an international presence through the Andersen network of affiliated firms.

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