Montrose Environmental Group (NYSE:ONT) CFO Purchases $100,377.60 in Stock

Montrose Environmental Group, Inc. (NYSE:ONT) CFO Allan Dicks acquired 6,535 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $15.36 per share, with a total value of $100,377.60. Following the completion of the transaction, the chief financial officer owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This represents a 3.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Montrose Environmental Group Price Performance

Shares of NYSE ONT traded down $0.17 during midday trading on Tuesday, reaching $15.75. 1,005,822 shares of the company were exchanged, compared to its average volume of 473,624. The stock’s 50-day moving average price is $22.43 and its 200-day moving average price is $23.99. The stock has a market cap of $569.21 million, a P/E ratio of 315.06, a PEG ratio of 1.09 and a beta of 1.83. Montrose Environmental Group, Inc. has a one year low of $15.18 and a one year high of $32.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76.

Montrose Environmental Group (NYSE:ONT) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a return on equity of 5.61% and a net margin of 0.71%.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 previous year, the business earned ($0.90) EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ONT has been the topic of a number of analyst reports. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Zacks Research cut shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Finally, Needham & Company LLC decreased their price objective on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a report on Friday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.33.

Hedge Funds Weigh In On Montrose Environmental Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 worth $269,000 after acquiring an additional 780 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Montrose Environmental Group by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock worth $4,663,000 after buying an additional 92,671 shares during the last quarter. Rhumbline Advisers boosted its stake in Montrose Environmental Group by 27.9% in the 2nd quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock worth $1,262,000 after purchasing an additional 12,566 shares in the last quarter. Invesco Ltd. lifted its stake in Montrose Environmental Group by 13.1% during the 2nd quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock valued at $3,329,000 after acquiring an additional 17,601 shares during the period. Finally, Marshall Wace LLP increased its holdings in Montrose Environmental Group by 245.0% in the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after acquiring an additional 272,444 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

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.