Andersen Group (NYSE:ANDG) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Trading volume surged 48% to 532,956 shares, while Andersen Group shares fell 1.6% to $56.31 from the previous close of $57.45.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $53.33; Robert W. Baird raised its target to $64, while Weiss Ratings maintained a sell rating.
• Andersen Group exceeded quarterly earnings expectations, reporting a loss of $0.09 per share versus the consensus estimate of a $0.16 loss, on revenue of $217.66 million. However, the company has elevated leverage, with a debt-to-equity ratio of 7.82 and a negative price-to-earnings ratio.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) shares saw unusually-high trading volume on Friday . 532,956 shares were traded during trading, an increase of 48% from the previous session's volume of 360,144 shares.The stock last traded at $56.3060 and had previously closed at $57.45.

Analyst Upgrades and Downgrades

ANDG has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Andersen Group from $42.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Andersen Group in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $56.00 price objective on shares of Andersen Group in a research report on Friday, August 14th. Robert W. Baird increased their price target on shares of Andersen Group from $57.00 to $64.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Morgan Stanley increased their target price on shares of Andersen Group from $27.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 13th. One research 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $53.33.

Andersen Group Trading Down 1.6%

The business has a 50 day moving average of $46.18 and a 200 day moving average of $36.57. The firm has a market capitalization of $6.39 billion and a price-to-earnings ratio of -106.64. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19.

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 analysts' consensus estimates of ($0.16) by $0.07. The firm had revenue of $217.66 million during the quarter. As a group, research analysts predict that Andersen Group Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Andersen Group

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business's stock in a transaction on 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 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 SEC, which can be accessed through the SEC website. 13.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Andersen Group

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