Nasym Afsari Sells 43,348 Shares of Montrose Environmental Group (NYSE:MEG) Stock

Montrose Environmental Group, Inc. (NYSE:MEG) General Counsel Nasym Afsari sold 43,348 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.37, for a total transaction of $1,229,782.76. Following the sale, the general counsel directly owned 204,878 shares in the company, valued at approximately $5,812,388.86. This represents a 17.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Nasym Afsari also recently made the following trade(s):

• On Monday, March 2nd, Nasym Afsari sold 200 shares of Montrose Environmental Group stock. The stock was sold at an average price of $30.00, for a total transaction of $6,000.00.

Montrose Environmental Group Trading Down 1.0%

NYSE:MEG opened at $26.99 on Friday. The company has a market capitalization of $971.10 million, a P/E ratio of -112.45, a PEG ratio of 2.25 and a beta of 1.92. 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, Inc. has a 12 month low of $10.51 and a 12 month high of $32.00. The firm has a fifty day simple moving average of $24.16 and a 200-day simple moving average of $26.24.

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

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Montrose Environmental Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after purchasing an additional 780 shares during the period. Goldman Sachs Group Inc. increased its holdings in Montrose Environmental Group by 39.6% in the first quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after buying an additional 92,671 shares in the last quarter. AlphaQuest LLC raised its position in shares of Montrose Environmental Group by 17.4% in the second quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock worth $105,000 after acquiring an additional 713 shares during the period. Atria Investments Inc purchased a new stake in shares of Montrose Environmental Group during the 2nd quarter worth about $266,000. Finally, Summit Creek Advisors LLC boosted its stake in shares of Montrose Environmental Group by 7.2% during the 2nd quarter. Summit Creek Advisors LLC now owns 626,560 shares of the company’s stock worth $13,715,000 after acquiring an additional 42,046 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. 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 report on Thursday, February 26th. Barclays increased their price objective on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock 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.