Montrose Environmental Group (NYSE:MEG) Insider Sells $212,166.00 in Stock

Montrose Environmental Group, Inc. (NYSE:MEG) insider Jose Revuelta sold 7,858 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $27.00, for a total value of $212,166.00. Following the completion of the transaction, the insider owned 269,282 shares of the company’s stock, valued at approximately $7,270,614. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Montrose Environmental Group Stock Down 0.5%

NYSE:MEG traded down $0.14 during trading hours on Wednesday, hitting $26.72. The stock had a trading volume of 223,685 shares, compared to its average volume of 485,299. The company has a market cap of $961.49 million, a PE ratio of -111.34, a price-to-earnings-growth ratio of 1.96 and a beta of 1.92. The business has a 50 day simple moving average of $24.26 and a two-hundred day simple moving average of $26.20. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year high of $32.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68.

Montrose Environmental Group (NYSE:MEG) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.90) earnings per share. Analysts predict that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of Montrose Environmental Group by 3,407.7% during the 2nd quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock worth $28,080,000 after buying an additional 1,246,199 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Montrose Environmental Group by 128.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after acquiring an additional 975,770 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Montrose Environmental Group during the fourth quarter valued at approximately $10,140,000. Marshall Wace LLP increased its stake in shares of Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after acquiring an additional 272,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Montrose Environmental Group by 14.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock worth $36,192,000 after purchasing an additional 179,855 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MEG. Needham & Company LLC lifted their target price on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.67.

Montrose Environmental Group Company Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.