Andersen Group Inc. $ANDG Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP trimmed its position in Andersen Group Inc. (NYSE:ANDG) by 49.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 40,000 shares of the company’s stock after selling 38,884 shares during the period. Readystate Asset Management LP’s holdings in Andersen Group were worth $1,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new stake in shares of Andersen Group in the fourth quarter valued at $45,987,000. J. Goldman & Co LP acquired a new stake in Andersen Group during the fourth quarter worth approximately $30,079,000. Brown Advisory Inc. acquired a new position in Andersen Group in the fourth quarter valued at $29,365,000. Franklin Resources Inc. purchased a new position in Andersen Group during the 4th quarter worth approximately $25,864,000. Finally, Royce & Associates LP acquired a new position in shares of Andersen Group in the 4th quarter valued at $19,948,000.

Insider Activity

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the company’s 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 transaction, the insider owned 1,333,749 shares of the company’s stock, valued at approximately $53,363,297.49. This represents a 20.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert V. Gunderson, Jr. bought 2,367 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $35.82 per share, for a total transaction of $84,785.94. Following the completion of the transaction, the director directly owned 15,000 shares of the company’s stock, 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. 13.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ANDG has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $41.00 price target on shares of Andersen Group in a research note on Wednesday, May 13th. Truist Financial increased their target price on Andersen Group from $32.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Finally, Morgan Stanley upped their target price on Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Andersen Group Stock Down 1.4%

NYSE:ANDG opened at $45.90 on Thursday. The company has a market cap of $5.18 billion and a P/E ratio of 269.99. The business’s 50 day moving average price is $39.33. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 9.72. Andersen Group Inc. has a 52 week low of $18.12 and a 52 week high of $48.32.

Andersen Group (NYSE:ANDG) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $240.75 million during the quarter. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, sell-side analysts expect that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

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.