Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) Director Richard E. Perlman sold 31,035 shares of the company's stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $52.72, for a total transaction of $1,636,165.20. Following the sale, the director now directly owns 870,800 shares of the company's stock, valued at $45,908,576. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Montrose Environmental Group Stock Performance
NYSE:MEG traded up $0.14 during trading hours on Tuesday, hitting $53.16. 79,472 shares of the company traded hands, compared to its average volume of 141,685. Montrose Environmental Group, Inc. has a twelve month low of $28.36 and a twelve month high of $57.49. The firm has a 50-day moving average of $46.20 and a 200 day moving average of $42.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.38 and a quick ratio of 2.38.
Get Montrose Environmental Group alerts:Montrose Environmental Group (NYSE:MEG – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $141.46 million. On average, sell-side analysts expect that Montrose Environmental Group, Inc. will post -1.33 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Bank of America raised shares of Montrose Environmental Group from a "neutral" rating to a "buy" rating in a report on Monday, December 12th. Morgan Stanley cut their target price on shares of Montrose Environmental Group from $51.00 to $47.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 14th. Finally, Needham & Company LLC upped their target price on shares of Montrose Environmental Group from $48.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, January 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Montrose Environmental Group has a consensus rating of "Moderate Buy" and a consensus target price of $50.67.Hedge Funds Weigh In On Montrose Environmental Group
Hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors acquired a new stake in shares of Montrose Environmental Group during the 1st quarter worth about $29,000. Stephens Inc. AR increased its position in shares of Montrose Environmental Group by 33.7% during the 2nd quarter. Stephens Inc. AR now owns 1,064 shares of the company's stock worth $36,000 after purchasing an additional 268 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Montrose Environmental Group during the 2nd quarter worth about $57,000. Tower Research Capital LLC TRC increased its position in shares of Montrose Environmental Group by 38.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,362 shares of the company's stock worth $79,000 after purchasing an additional 657 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Montrose Environmental Group during the 3rd quarter worth about $99,000. Institutional investors and hedge funds own 90.89% of the company's stock.
About Montrose Environmental Group
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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.
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