Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) Director Richard E. Perlman sold 14,253 shares of the business's stock in a transaction on Friday, January 27th. The stock was sold at an average price of $52.94, for a total transaction of $754,553.82. Following the sale, the director now directly owns 834,291 shares in the company, valued at approximately $44,167,365.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Montrose Environmental Group Stock Performance
Shares of MEG stock traded up $0.85 on Friday, hitting $52.69. The company had a trading volume of 106,165 shares, compared to its average volume of 143,520. Montrose Environmental Group, Inc. has a twelve month low of $28.36 and a twelve month high of $57.49. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average is $46.48 and its two-hundred day moving average is $42.41.
Get Montrose Environmental Group alerts:Montrose Environmental Group (NYSE:MEG – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($0.33) EPS 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 company had revenue of $130.31 million during the quarter, compared to the consensus estimate of $141.46 million. On average, analysts forecast that Montrose Environmental Group, Inc. will post -1.33 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on MEG shares. Morgan Stanley reduced their price objective on Montrose Environmental Group from $51.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 14th. Bank of America raised Montrose Environmental Group from a "neutral" rating to a "buy" rating in a research note on Monday, December 12th. Finally, Needham & Company LLC lifted their target price on shares of Montrose Environmental Group from $48.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, January 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Montrose Environmental Group has an average rating of "Moderate Buy" and a consensus target price of $50.67.Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of MEG. JPMorgan Chase & Co. lifted its position in shares of Montrose Environmental Group by 141.2% in the 1st quarter. JPMorgan Chase & Co. now owns 47,483 shares of the company's stock worth $2,513,000 after purchasing an additional 27,800 shares during the period. HighTower Advisors LLC acquired a new position in shares of Montrose Environmental Group in the 1st quarter worth approximately $311,000. Natixis Advisors L.P. acquired a new position in shares of Montrose Environmental Group in the 1st quarter worth approximately $793,000. MetLife Investment Management LLC lifted its position in shares of Montrose Environmental Group by 53.1% in the 1st quarter. MetLife Investment Management LLC now owns 13,829 shares of the company's stock worth $732,000 after purchasing an additional 4,796 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Montrose Environmental Group by 9.9% in the 1st quarter. Rhumbline Advisers now owns 27,040 shares of the company's stock worth $1,431,000 after purchasing an additional 2,447 shares during the period. Institutional investors and hedge funds 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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