Key Points
- Durable Capital Partners, a major shareholder in Andersen Group, sold 336,736 shares for about $13.47 million at an average price of $40.01, reducing its stake by 20.16%.
- Andersen Group shares recently traded near their 52-week high, opening at $43.33 versus a year range of $18.12 to $43.55, while the stock carries a high P/E ratio of 254.88.
- The company’s latest earnings missed expectations, with quarterly EPS of $0.03 versus the $0.11 consensus, even though revenue rose 15.7% year over year to $240.75 million.
Andersen Group Inc. (NYSE:ANDG - Get Free Report) major shareholder Durable Capital Partners Lp sold 336,736 shares of the firm'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 sale, the insider owned 1,333,749 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Andersen Group Price Performance
Shares of NYSE ANDG opened at $43.33 on Friday. The business's 50-day simple moving average is $37.11. The stock has a market cap of $4.89 billion and a P/E 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 debt-to-equity ratio of 9.72, a current ratio of 2.36 and a quick ratio of 2.36.
Andersen Group (NYSE:ANDG - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $240.75 million during the quarter. The business's revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, equities research analysts expect that Andersen Group Inc. will post 0.73 earnings per share for the current year.
Institutional Investors Weigh In On Andersen Group
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Andersen Group by 1.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 130,856 shares of the company's stock worth $3,559,000 after buying an additional 1,267 shares during the last quarter. Wells Fargo & Company MN purchased a new stake in Andersen Group during the 4th quarter valued at approximately $46,000. Bank of New York Mellon Corp lifted its position 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 during the period. PNC Financial Services Group Inc. acquired a new stake in Andersen Group during the 4th quarter worth approximately $215,000. Finally, Barclays PLC purchased a new position in shares of Andersen Group in the 4th quarter valued at approximately $218,000.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on ANDG. UBS Group boosted their price objective on shares of Andersen Group from $34.00 to $42.00 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Morgan Stanley increased their target price on shares of Andersen Group from $24.00 to $27.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 13th. 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 boosted their price target on shares of Andersen Group from $32.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company upped their price objective on shares of Andersen Group from $25.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.00.
Get Our Latest Stock Report on Andersen Group
Andersen Group Company Profile
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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.
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