Andersen Group (NYSE:ANDG) Shares Down 8.2% – Here’s Why

Andersen Group Inc. (NYSE:ANDG)’s share price traded down 8.2% during trading on Tuesday . The stock traded as low as $45.21 and last traded at $44.9770. Approximately 38,962 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 330,498 shares. The stock had previously closed at $49.00.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ANDG shares. UBS Group raised their price objective on shares of Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $56.00 target price on shares of Andersen Group in a report on Friday, August 14th. Weiss Ratings upgraded shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Wells Fargo & Company boosted their price objective on shares of Andersen Group from $38.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Robert W. Baird increased their price objective on Andersen Group from $44.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Andersen Group Stock Down 1.0%

The stock has a 50-day moving average price of $42.44 and a 200-day moving average price of $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. The company has a market capitalization of $5.11 billion and a P/E ratio of -85.43.

Andersen Group (NYSE:ANDG) last released its 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 for the quarter. On average, research analysts predict that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity at Andersen Group

In other news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the stock in a transaction on 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 completion of the sale, the insider directly owned 1,333,749 shares in the company, valued at $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 SEC, which is available through the SEC website. Corporate insiders own 13.00% of the company’s stock.

Institutional Trading of Andersen Group

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