Andersen Group (NYSE:ANDG) Issues Quarterly Earnings Results

Andersen Group (NYSE:ANDG) announced its quarterly earnings results on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $217.66 million during the quarter.

Andersen Group Stock Performance

NYSE ANDG traded up $1.76 during trading on Wednesday, reaching $50.23. The company’s stock had a trading volume of 437,254 shares, compared to its average volume of 329,200. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 9.72. The firm has a market capitalization of $5.67 billion and a price-to-earnings ratio of 295.47. Andersen Group has a 12 month low of $18.12 and a 12 month high of $50.76. The firm has a 50 day moving average price of $41.20 and a 200 day moving average price of $32.95.

Analysts Set New Price Targets

ANDG has been the subject of a number of research reports. UBS Group raised their target price on shares of Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Wells Fargo & Company raised their price objective on shares of Andersen Group from $25.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 13th. Robert W. Baird boosted their price objective on Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Weiss Ratings raised Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Truist Financial increased their target price on Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Insider Activity at Andersen Group

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of Andersen Group stock in a transaction that occurred 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 completion of the sale, the insider directly owned 1,333,749 shares in the company, valued at approximately $53,363,297.49. The trade was 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 link. Also, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $35.82 per share, with a total value of $84,785.94. Following the completion of the purchase, the director owned 15,000 shares of the company’s stock, valued at $537,300. This trade represents a 18.74% increase in their position. The SEC filing for this purchase provides additional information. 13.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas bought a new stake in Andersen Group during the fourth quarter worth about $4,278,000. PNC Financial Services Group Inc. acquired a new position in shares of Andersen Group in the 4th quarter valued at approximately $215,000. Royce & Associates LP bought a new stake in shares of Andersen Group during the 4th quarter worth approximately $19,948,000. Seven Grand Managers LLC bought a new stake in shares of Andersen Group during the 4th quarter worth approximately $12,965,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Andersen Group during the 4th quarter worth approximately $10,420,000.

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.