Montrose Environmental Group (NYSE:ONT) Director Buys $77,468.40 in Stock

Montrose Environmental Group, Inc. (NYSE:ONT) Director Peter Graham purchased 4,860 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of $15.94 per share, with a total value of $77,468.40. Following the purchase, the director owned 231,549 shares in the company, valued at approximately $3,690,891.06. This trade represents a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Montrose Environmental Group Trading Down 1.7%

Shares of Montrose Environmental Group stock traded down $0.30 during mid-day trading on Friday, hitting $17.19. The stock had a trading volume of 943,644 shares, compared to its average volume of 448,854. The firm has a 50-day moving average of $19.28 and a two-hundred day moving average of $22.79. Montrose Environmental Group, Inc. has a 12-month low of $14.13 and a 12-month 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. The firm has a market cap of $621.23 million, a P/E ratio of 343.87, a price-to-earnings-growth ratio of 1.23 and a beta of 1.72.

Institutional Investors Weigh In On Montrose Environmental Group

A number of hedge funds have recently added to or reduced their stakes in ONT. Advisory Services Network LLC acquired a new stake in Montrose Environmental Group during the 3rd quarter worth approximately $32,000. Canada Pension Plan Investment Board lifted its holdings in Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after buying an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Montrose Environmental Group by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Montrose Environmental Group in the 4th quarter valued at $75,000. Finally, Assetmark Inc. acquired a new stake in shares of Montrose Environmental Group in the 4th quarter valued at $84,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ONT. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Zacks Research raised shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC lowered 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 research report on Friday, May 8th. Finally, Barclays lowered their price objective on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.67.

About Montrose Environmental Group

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.