Readystate Asset Management LP Trims Stock Position in Andersen Group Inc. $ANDG

Readystate Asset Management LP trimmed its position in Andersen Group Inc. (NYSE:ANDG) by 62.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,000 shares of the company’s stock after selling 25,000 shares during the period. Readystate Asset Management LP’s holdings in Andersen Group were worth $566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ANDG. Wells Fargo & Company MN purchased a new stake in shares of Andersen Group during the 4th quarter valued at approximately $46,000. PNC Financial Services Group Inc. purchased a new position in Andersen Group in the fourth quarter worth approximately $215,000. Barclays PLC acquired a new stake in Andersen Group during the fourth quarter worth $218,000. Voloridge Investment Management LLC acquired a new stake in Andersen Group during the fourth quarter worth $259,000. Finally, XTX Topco Ltd purchased a new stake in Andersen Group in the fourth quarter valued at $269,000.

Analyst Ratings Changes

ANDG has been the topic of several recent analyst reports. UBS Group upped their price target on Andersen Group from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Truist Financial raised their price objective on Andersen Group from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $56.00 target price on shares of Andersen Group in a research report on Friday, August 14th. Robert W. Baird increased their target price on shares of Andersen Group from $57.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Finally, Wells Fargo & Company lifted their price target on shares of Andersen Group from $38.00 to $49.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Andersen Group has a consensus rating of “Moderate Buy” and a consensus price target of $53.33.

Insider Activity at Andersen Group

In other Andersen Group news, major shareholder Durable Capital Partners Lp sold 336,736 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $40.01, for a total value of $13,472,807.36. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.00% of the stock is currently owned by company insiders.

Andersen Group Trading Down 0.2%

NYSE ANDG opened at $56.12 on Tuesday. The firm has a 50 day simple moving average of $46.94 and a 200-day simple moving average of $37.06. The company has a debt-to-equity ratio of 7.82, a quick ratio of 2.19 and a current ratio of 2.19. Andersen Group Inc. has a one year low of $18.12 and a one year high of $57.62. The firm has a market cap of $6.34 billion and a price-to-earnings ratio of -105.89.

Andersen Group (NYSE:ANDG) last announced its earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The business had revenue of $217.66 million for the quarter. Equities research analysts anticipate that Andersen Group Inc. will post 0.73 EPS for the current fiscal year.

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.