Andersen Group (NYSE:ANDG) Major Shareholder Durable Capital Partners Lp Sells 336,736 Shares of Stock

Andersen Group Inc. (NYSE:ANDG) major shareholder Durable Capital Partners Lp sold 336,736 shares of the stock in a transaction dated 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 transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Andersen Group Price Performance

Shares of ANDG opened at $43.33 on Friday. The company’s 50-day moving average is $37.11. The firm has a market capitalization of $4.89 billion and a PE ratio of 254.88. Andersen Group Inc. has a 1-year low of $18.12 and a 1-year high of $43.55. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 9.72.

Andersen Group (NYSE:ANDG) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $240.75 million for the quarter. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, sell-side analysts expect that Andersen Group Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Andersen Group

A number of hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its stake in shares of Andersen Group by 512.0% in the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock valued at $350,000 after buying an additional 10,752 shares during the period. Renaissance Technologies LLC acquired a new stake in Andersen Group in the first quarter valued at approximately $1,686,000. Sei Investments Co. lifted its stake in Andersen Group by 96.3% in the first quarter. Sei Investments Co. now owns 121,649 shares of the company’s stock worth $3,309,000 after acquiring an additional 59,693 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Andersen Group by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company’s stock worth $3,559,000 after acquiring an additional 1,267 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in 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 acquiring an additional 5,962 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ANDG shares. Robert W. Baird lifted their price objective on Andersen Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Wells Fargo & Company increased their target price on Andersen Group from $25.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th. Morgan Stanley raised their target price on Andersen Group from $24.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, May 13th. Weiss Ratings raised Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. Finally, Truist Financial increased 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. One equities research 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 given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

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.