Andersen Group (NYSE:ANDG) Sees Strong Trading Volume – Should You Buy?

Andersen Group Inc. (NYSE:ANDG) shares saw an uptick in trading volume on Thursday . Approximately 919,518 shares were traded during mid-day trading, an increase of 174% from the previous session’s volume of 335,098 shares.The stock last traded at $47.80 and had previously closed at $45.02.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ANDG shares. UBS Group lifted their target price on Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Robert W. Baird increased their price target on Andersen Group from $44.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Truist Financial lifted their price objective on Andersen Group from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company upped their target price on Andersen Group from $38.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Andersen Group Stock Up 8.0%

The company has a market capitalization of $5.49 billion and a price-to-earnings ratio of -91.70. The stock’s fifty day simple moving average is $42.44 and its two-hundred day simple moving average is $34.01. 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) last issued its earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.07. The company had revenue of $217.66 million during the quarter. On average, sell-side analysts predict that Andersen Group Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Andersen Group

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total transaction 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 trade represents a 20.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.00% of the company’s stock.

Institutional Investors Weigh In On Andersen Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN bought a new stake in shares of Andersen Group in the 4th quarter worth approximately $46,000. PNC Financial Services Group Inc. bought a new stake in Andersen Group during the fourth quarter worth approximately $215,000. Barclays PLC acquired a new position in Andersen Group in the fourth quarter worth approximately $218,000. Voloridge Investment Management LLC acquired a new position in Andersen Group in the fourth quarter worth approximately $259,000. Finally, XTX Topco Ltd bought a new position in shares of Andersen Group in the fourth quarter valued at $269,000.

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.