Montrose Environmental Group (NYSE:ONT) CFO Allan Dicks Purchases 6,535 Shares

Montrose Environmental Group, Inc. (NYSE:ONT) CFO Allan Dicks purchased 6,535 shares of Montrose Environmental Group stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the transaction, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This represents a 3.09% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Montrose Environmental Group Stock Down 1.1%

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

Montrose Environmental Group (NYSE:ONT) last released its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. The firm had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. During the same period in the prior year, the firm earned ($0.90) earnings per share. 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.

Hedge Funds Weigh In On Montrose Environmental Group

Several hedge funds and other institutional investors have recently bought and sold shares of ONT. Advisory Services Network LLC acquired a new position in Montrose Environmental Group during the 3rd quarter worth approximately $32,000. Canada Pension Plan Investment Board increased 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 purchasing an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Montrose Environmental Group by 95.6% during 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 last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Montrose Environmental Group during the 4th quarter worth approximately $75,000. Finally, Assetmark Inc. purchased a new stake in Montrose Environmental Group during the 4th quarter worth approximately $84,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ONT. Needham & Company LLC cut their target price on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday. Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Zacks Research lowered shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.33.

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.