Summit Creek Advisors LLC Raises Stock Holdings in Montrose Environmental Group, Inc. $ONT

Summit Creek Advisors LLC increased its position in Montrose Environmental Group, Inc. (NYSE:ONT) by 10.6% during the 4th quarter, Holdings Channel.com reports. 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’s holdings in Montrose Environmental Group were worth $15,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Montrose Environmental Group by 39.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,804 shares of the company’s stock worth $119,000 after purchasing an additional 1,359 shares during the period. Stephens Investment Management Group LLC grew its stake in Montrose Environmental Group by 6.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 704,702 shares of the company’s stock worth $17,498,000 after purchasing an additional 43,774 shares during the period. Versor Investments LP boosted its holdings in Montrose Environmental Group by 69.8% in the fourth quarter. Versor Investments LP now owns 22,750 shares of the company’s stock worth $565,000 after acquiring an additional 9,350 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Montrose Environmental Group in the fourth quarter worth $1,043,000. Finally, Conestoga Capital Advisors LLC boosted its holdings in Montrose Environmental Group by 2.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 71,475 shares of the company’s stock worth $1,775,000 after acquiring an additional 1,795 shares in the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ONT shares. Zacks Research downgraded Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Barclays dropped their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Needham & Company LLC dropped their target price on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.67.

Montrose Environmental Group Trading Up 7.3%

Montrose Environmental Group stock opened at $15.56 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $20.95 and its two-hundred day simple moving average is $23.47. Montrose Environmental Group, Inc. has a 12 month low of $14.13 and a 12 month high of $32.00. The company has a market capitalization of $562.34 million, a price-to-earnings ratio of 311.26, a price-to-earnings-growth ratio of 1.08 and a beta of 1.83.

Montrose Environmental Group (NYSE:ONT) last released 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 business 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 company posted ($0.90) earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Montrose Environmental Group, Inc. will post 0.71 earnings per share for the current fiscal year.

Insider Activity

In other Montrose Environmental Group news, CFO Allan Dicks purchased 6,535 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $15.36 per share, with a total value of $100,377.60. Following the completion of the acquisition, the chief financial officer directly owned 218,178 shares in the company, valued at $3,351,214.08. This trade represents a 3.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Nasym Afsari sold 43,348 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.37, for a total value of $1,229,782.76. Following the transaction, the general counsel directly owned 204,878 shares in the company, valued at approximately $5,812,388.86. The trade was a 17.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 107,527 shares of company stock valued at $2,908,583. Corporate insiders own 10.40% of the company’s stock.

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.