Insider Selling: Andersen Group (NYSE:ANDG) Major Shareholder Sells 336,736 Shares of Stock

Andersen Group Inc. (NYSE:ANDG) major shareholder Durable Capital Partners Lp sold 336,736 shares of the company’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 completion of the sale, the insider owned 1,333,749 shares in the company, valued at approximately $53,363,297.49. This trade represents a 20.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Andersen Group Trading Up 10.0%

Andersen Group stock traded up $3.93 during midday trading on Thursday, hitting $43.33. The stock had a trading volume of 481,291 shares, compared to its average volume of 327,689. The business’s fifty day moving average is $36.95. Andersen Group Inc. has a 12 month low of $18.12 and a 12 month high of $43.55. The company has a market capitalization of $4.89 billion and a PE ratio of 254.88. The company has a debt-to-equity ratio of 9.72, a quick ratio of 2.36 and a current ratio of 2.36.

Andersen Group (NYSE:ANDG) last released its earnings results on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $240.75 million during the quarter. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

ANDG has been the subject of a number of research reports. Weiss Ratings raised shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Robert W. Baird increased their target price on shares of Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Truist Financial raised their price target on shares of Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Morgan Stanley lifted their price target on shares of Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. Finally, UBS Group boosted their price objective on shares of Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Institutional Trading of Andersen Group

Several hedge funds have recently made changes to their positions in ANDG. JPMorgan Chase & Co. acquired a new position in shares of Andersen Group during the fourth quarter valued at $45,987,000. J. Goldman & Co LP acquired a new position in Andersen Group during the 4th quarter valued at about $30,079,000. Brown Advisory Inc. acquired a new position in Andersen Group during the 4th quarter valued at about $29,365,000. Franklin Resources Inc. bought a new stake in shares of Andersen Group during the 4th quarter worth about $25,864,000. Finally, Royce & Associates LP bought a new stake in shares of Andersen Group during the 4th quarter worth about $19,948,000.

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.