Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) Director Richard E. Perlman sold 400 shares of the company's stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $52.55, for a total transaction of $21,020.00. Following the completion of the sale, the director now directly owns 848,544 shares in the company, valued at $44,590,987.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Montrose Environmental Group Stock Performance
MEG stock opened at $52.69 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.52. Montrose Environmental Group, Inc. has a 1-year low of $28.36 and a 1-year high of $57.49. The firm has a fifty day moving average price of $46.65 and a two-hundred day moving average price of $42.59.
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Montrose Environmental Group (NYSE:MEG – Get Rating) last released its earnings results on Tuesday, November 8th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.13). Montrose Environmental Group had a negative net margin of 4.10% and a negative return on equity of 6.42%. The business had revenue of $130.31 million for the quarter, compared to the consensus estimate of $141.46 million. As a group, analysts anticipate that Montrose Environmental Group, Inc. will post -1.33 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Montrose Environmental Group from $51.00 to $47.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 14th. Needham & Company LLC upped their price target on shares of Montrose Environmental Group from $48.00 to $58.00 and gave the company a "buy" rating in a report on Monday, January 16th. Finally, Bank of America raised shares of Montrose Environmental Group from a "neutral" rating to a "buy" rating in a report on Monday, December 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $50.67.
Hedge Funds Weigh In On Montrose Environmental Group
Institutional investors have recently modified their holdings of the company. Captrust Financial Advisors bought a new position in shares of Montrose Environmental Group during the first quarter worth about $29,000. Stephens Inc. AR grew its position in shares of Montrose Environmental Group by 33.7% during the second quarter. Stephens Inc. AR now owns 1,064 shares of the company's stock worth $36,000 after acquiring an additional 268 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Montrose Environmental Group during the second quarter worth about $57,000. Tower Research Capital LLC TRC grew its position in shares of Montrose Environmental Group by 38.5% during the third quarter. Tower Research Capital LLC TRC now owns 2,362 shares of the company's stock worth $79,000 after acquiring an additional 657 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Montrose Environmental Group in the third quarter worth about $99,000. Institutional investors own 90.89% of the company's stock.
Montrose Environmental Group Company Profile
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Montrose Environmental Group, Inc operates as an environmental services company in the United States. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments, environmental emergency response and recovery, toxicology consulting and environmental audits and permits for current operations, facility upgrades, new projects, decommissioning projects, and development projects.
Further Reading
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