Jose Revuelta Sells 7,858 Shares of Montrose Environmental Group (NYSE:MEG) Stock

Montrose Environmental Group, Inc. (NYSE:MEG) insider Jose Revuelta sold 7,858 shares of Montrose Environmental Group stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.00, for a total value of $212,166.00. Following the transaction, the insider owned 269,282 shares in the company, valued at approximately $7,270,614. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Montrose Environmental Group Price Performance

Shares of MEG traded down $0.14 during midday trading on Wednesday, reaching $26.72. The stock had a trading volume of 223,685 shares, compared to its average volume of 485,299. 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 company has a market capitalization of $961.49 million, a P/E ratio of -111.34, a P/E/G ratio of 1.96 and a beta of 1.92. The firm’s 50 day moving average price is $24.26 and its 200-day moving average price is $26.20. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $32.00.

Montrose Environmental Group (NYSE:MEG) last announced its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $193.27 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the business posted ($0.90) earnings per share. On average, analysts forecast that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Montrose Environmental Group in the third quarter worth approximately $32,000. Canada Pension Plan Investment Board lifted its position in shares of Montrose Environmental Group by 533.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after acquiring an additional 1,600 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Montrose Environmental Group in the 4th quarter worth approximately $75,000. Tower Research Capital LLC TRC boosted its stake in 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 worth $68,000 after purchasing an additional 1,508 shares during the period. Finally, Assetmark Inc. purchased a new position in Montrose Environmental Group during the 4th quarter worth approximately $84,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Needham & Company LLC raised their target price on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Montrose Environmental Group currently has an average 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.