Andersen Group Inc.’s Lock-Up Period Will End on June 15th (NYSE:ANDG)

Andersen Group’s (NYSE:ANDG) lock-up period will end on Monday, June 15th. Andersen Group had issued 11,000,000 shares in its public offering on December 17th. The total size of the offering was $176,000,000 based on an initial share price of $16.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ANDG shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $41.00 target price on shares of Andersen Group in a research note on Wednesday, May 13th. Wells Fargo & Company upped 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. Truist Financial upped their target price on Andersen Group from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Morgan Stanley upped their target price on Andersen Group from $24.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 13th. Finally, UBS Group upped their price target on shares of Andersen Group from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Andersen Group Price Performance

Shares of NYSE:ANDG opened at $38.64 on Monday. The business’s fifty day moving average is $33.97. Andersen Group has a 52-week low of $18.12 and a 52-week high of $40.23.

Andersen Group (NYSE:ANDG) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.03 earnings per share (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 business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Andersen Group will post 0.73 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert V. Gunderson, Jr. acquired 2,367 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $35.82 per share, for a total transaction of $84,785.94. Following the completion of the acquisition, the director directly owned 15,000 shares of the company’s stock, valued at approximately $537,300. This trade represents a 18.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of Andersen Group

A number of institutional investors and hedge funds have recently bought and sold shares of ANDG. Teacher Retirement System of Texas acquired a new stake in Andersen Group in the fourth quarter valued at $4,278,000. PNC Financial Services Group Inc. acquired a new stake in Andersen Group in the fourth quarter valued at $215,000. Royce & Associates LP acquired a new stake in Andersen Group in the fourth quarter valued at $19,948,000. Seven Grand Managers LLC acquired a new stake in Andersen Group in the fourth quarter valued at $12,965,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Andersen Group in the fourth quarter valued at $10,420,000.

About Andersen Group

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.