Andersen Group (NYSE:ANDG) Hits New 52-Week High – What’s Next?

Andersen Group Inc. (NYSE:ANDG) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.44 and last traded at $50.7990, with a volume of 83550 shares traded. The stock had previously closed at $50.16.

Analysts Set New Price Targets

A number of research firms have commented on ANDG. Morgan Stanley lifted their target price on Andersen Group from $27.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Weiss Ratings raised shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $56.00 target price on shares of Andersen Group in a report on Friday, August 14th. UBS Group increased their price target on Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Robert W. Baird raised their target price on Andersen Group from $44.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.17.

Andersen Group Trading Down 0.6%

The stock has a 50 day moving average of $42.99 and a 200-day moving average of $34.40. The company has a market capitalization of $5.63 billion and a P/E ratio of -94.00. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.82.

Andersen Group (NYSE:ANDG) last released its earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. The firm had revenue of $217.66 million for the quarter. On average, research analysts predict that Andersen Group Inc. will post 0.73 EPS for the current year.

Insider Transactions at Andersen Group

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business’s stock in a transaction dated 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 directly owned 1,333,749 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.00% of the company’s stock.

Institutional Trading of Andersen Group

A number of institutional investors and hedge funds have recently bought and sold shares of ANDG. Renaissance Technologies LLC bought a new position in shares of Andersen Group during the 1st quarter valued at approximately $1,686,000. Sei Investments Co. lifted its stake in shares of Andersen Group by 96.3% in the 1st quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock valued at $3,309,000 after purchasing an additional 59,693 shares during the last quarter. Seven Grand Managers LLC purchased a new position in shares of Andersen Group in the 4th quarter worth approximately $12,965,000. Royce & Associates LP bought a new position in shares of Andersen Group during the 4th quarter valued at approximately $19,948,000. Finally, Telemark Asset Management LLC bought a new position in shares of Andersen Group during the 4th quarter valued at approximately $2,593,000.

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.