Readystate Asset Management LP Has $1.09 Million Position in Andersen Group Inc. $ANDG

Readystate Asset Management LP cut its holdings in Andersen Group Inc. (NYSE:ANDG) by 49.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,000 shares of the company’s stock after selling 38,884 shares during the quarter. Readystate Asset Management LP’s holdings in Andersen Group were worth $1,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Andersen Group by 1.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock valued at $3,559,000 after buying an additional 1,267 shares during the last quarter. Wells Fargo & Company MN acquired a new position in shares of Andersen Group during the 4th quarter valued at $46,000. Bank of New York Mellon Corp boosted its position in shares of Andersen Group by 47.0% during the 1st quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company’s stock worth $507,000 after purchasing an additional 5,962 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in Andersen Group in the fourth quarter worth approximately $215,000. Finally, Barclays PLC bought a new position in shares of Andersen Group in the 4th quarter worth $218,000.

Analyst Ratings Changes

A number of research analysts have weighed in on ANDG shares. Weiss Ratings upgraded shares of Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. Truist Financial upped their price objective on shares of Andersen Group from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $41.00 price objective on shares of Andersen Group in a report on Wednesday, May 13th. UBS Group lifted their price target on Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Wells Fargo & Company raised their price target on Andersen Group from $25.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, May 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 assigned a Sell rating to the stock. According to MarketBeat.com, Andersen Group presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Andersen Group Trading Down 1.4%

Andersen Group stock opened at $45.90 on Thursday. The business has a 50-day moving average price of $39.33. Andersen Group Inc. has a 12-month low of $18.12 and a 12-month high of $48.32. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 9.72. The company has a market cap of $5.18 billion and a price-to-earnings ratio of 269.99.

Andersen Group (NYSE:ANDG) last issued 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 firm had revenue of $240.75 million for the quarter. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, 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 news, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $35.82 per share, for a total transaction of $84,785.94. Following the purchase, the director owned 15,000 shares in the company, valued at $537,300. This trade represents a 18.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Durable Capital Partners Lp sold 336,736 shares of the stock in a transaction on Tuesday, July 7th. The stock was 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 $53,363,297.49. The trade was a 20.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 13.00% of the stock is owned by company insiders.

Andersen Group 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.