Montrose Environmental Group (NYSE:MEG) CEO Vijay Manthripragada Sells 46,121 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada sold 46,121 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the completion of the sale, the chief executive officer directly owned 236,788 shares in the company, valued at $6,016,783.08. This trade represents a 16.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Montrose Environmental Group Trading Down 5.5%

Shares of MEG opened at $23.53 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a 50 day simple moving average of $24.24 and a 200-day simple moving average of $26.07. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year high of $32.00. The stock has a market cap of $846.54 million, a price-to-earnings ratio of -98.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.91.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC acquired a new position in Montrose Environmental Group in the third quarter valued at $2,803,000. Peregrine Capital Management LLC boosted its stake in Montrose Environmental Group by 16.6% in the 3rd quarter. Peregrine Capital Management LLC now owns 283,899 shares of the company’s stock worth $7,796,000 after buying an additional 40,393 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Montrose Environmental Group by 18.0% in the 3rd quarter. Fisher Asset Management LLC now owns 257,872 shares of the company’s stock valued at $7,081,000 after buying an additional 39,331 shares during the period. Franklin Resources Inc. purchased a new stake in Montrose Environmental Group in the 2nd quarter valued at about $502,000. Finally, Legal & General Group Plc increased its stake in shares of Montrose Environmental Group by 12.9% during the 2nd quarter. Legal & General Group Plc now owns 904,154 shares of the company’s stock valued at $19,792,000 after acquiring an additional 103,460 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MEG. Needham & Company LLC increased their price objective on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.