Andersen Group (NYSE:ANDG) Shares Up 7.7% – Here’s Why

Andersen Group Inc. (NYSE:ANDG) shares shot up 7.7% on Friday . The stock traded as high as $37.56 and last traded at $37.7190. 206,786 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 307,213 shares. The stock had previously closed at $35.01.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ANDG. Weiss Ratings raised Andersen Group from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. Wells Fargo & Company raised 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. UBS Group raised their target price on Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Robert W. Baird raised their target price on Andersen Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $41.00 target price on shares of Andersen Group in a research note on Wednesday, May 13th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Andersen Group Price Performance

The business has a 50 day moving average price of $34.94.

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

Insider Activity

In other Andersen Group news, Director Robert V. Gunderson, Jr. purchased 2,367 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $35.82 per share, for a total transaction of $84,785.94. Following the transaction, the director owned 15,000 shares in the company, valued at $537,300. The trade was a 18.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Trading of Andersen Group

Large investors have recently modified their holdings of the business. Wells Fargo & Company MN bought a new stake in shares of Andersen Group during the 4th quarter valued at about $46,000. PNC Financial Services Group Inc. bought a new stake in shares of Andersen Group during the 4th quarter valued at about $215,000. Barclays PLC bought a new stake in shares of Andersen Group during the 4th quarter valued at about $218,000. Voloridge Investment Management LLC bought a new stake in shares of Andersen Group during the 4th quarter valued at about $259,000. Finally, XTX Topco Ltd bought a new stake in shares of Andersen Group during the 4th quarter valued at about $269,000.

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.