Tax firm Andersen slides after launching secondary offering

Tax and financial advisory firm Andersen Group's ANDG.N shares were down 7% at $44.55 in extended trading after secondary offering news.

ANDG launches ~4.3 mln share offering by certain selling holders.

Baird, Truist and UBS lead bookrunners, joined by William Blair as bookrunner.

ANDG stock closed up 0.2% at $49 on Mon.

San Francisco, California-based firm, which has ~113 mln shares outstanding, went public in Dec after 11 mln share IPO priced at $16.

Stock hit record intraday high of $50.76 last Weds.

5 of 7 analysts rate the stock "strong buy" or "buy", 2 "hold"; median PT of $55.50 up from $41.50 a month ago, per LSEG data.