Summit Creek Advisors LLC Increases Stake in Montrose Environmental Group, Inc. $ONT

Summit Creek Advisors LLC boosted its stake in Montrose Environmental Group, Inc. (NYSE:ONT) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 628,786 shares of the company’s stock after purchasing an additional 60,237 shares during the period. Montrose Environmental Group comprises 2.5% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 11th largest position. Summit Creek Advisors LLC owned 1.78% of Montrose Environmental Group worth $15,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in Montrose Environmental Group by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock worth $261,000 after purchasing an additional 488 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Montrose Environmental Group by 2.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after purchasing an additional 515 shares during the period. CWM LLC increased its stake in Montrose Environmental Group by 8.6% in the 4th quarter. CWM LLC now owns 8,324 shares of the company’s stock worth $207,000 after purchasing an additional 659 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 purchasing an additional 780 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its stake in Montrose Environmental Group by 0.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,430 shares of the company’s stock worth $7,618,000 after purchasing an additional 786 shares during the period. 87.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ONT has been the topic of a number of analyst reports. Zacks Research cut Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Needham & Company LLC decreased their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Barclays decreased their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.67.

Insider Activity

In related news, General Counsel Nasym Afsari sold 43,348 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.37, for a total value of $1,229,782.76. Following the sale, the general counsel directly owned 204,878 shares of the company’s stock, valued at $5,812,388.86. This represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Allan Dicks purchased 6,535 shares of Montrose Environmental Group stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the purchase, the chief financial officer owned 218,178 shares of the company’s stock, valued at $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 107,527 shares of company stock valued at $2,908,583. 10.40% of the stock is owned by insiders.

Montrose Environmental Group Price Performance

ONT opened at $15.56 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. Montrose Environmental Group, Inc. has a 52-week low of $14.13 and a 52-week high of $32.00. The stock has a market capitalization of $562.34 million, a PE ratio of 311.26, a price-to-earnings-growth ratio of 1.08 and a beta of 1.83. The stock’s 50 day moving average price is $20.95 and its 200-day moving average price is $23.47.

Montrose Environmental Group (NYSE:ONT) last posted 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 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 analysts’ expectations of $186.24 million. During the same period in the previous year, the firm earned ($0.90) earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Montrose Environmental Group, Inc. will post 0.71 EPS for the current year.

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.