Montrose Environmental Group, Inc. (NYSE:MEG) Director Richard E. Perlman Sells 23,790 Shares

Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) Director Richard E. Perlman sold 23,790 shares of the stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $52.69, for a total value of $1,253,495.10. Following the sale, the director now owns 901,835 shares in the company, valued at $47,517,686.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Montrose Environmental Group Stock Up 4.7 %

Shares of Montrose Environmental Group stock opened at $52.79 on Friday. Montrose Environmental Group, Inc. has a 12 month low of $28.36 and a 12 month high of $57.49. The business has a fifty day simple moving average of $46.09 and a 200 day simple moving average of $41.97. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.57 billion, a PE ratio of -40.30 and a beta of 1.63.

Montrose Environmental Group (NYSE:MEG – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.13). The company had revenue of $130.31 million during the quarter, compared to the consensus estimate of $141.46 million. Montrose Environmental Group had a negative net margin of 4.10% and a negative return on equity of 6.42%. Research analysts predict that Montrose Environmental Group, Inc. will post -1.33 EPS for the current year.

Institutional Trading of Montrose Environmental Group

A number of institutional investors and hedge funds have recently modified their holdings of MEG. Captrust Financial Advisors bought a new stake in shares of Montrose Environmental Group in the 1st quarter valued at about $29,000. Stephens Inc. AR increased its stake in 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 bought a new stake in Montrose Environmental Group during the 2nd quarter worth approximately $57,000. Tower Research Capital LLC TRC increased its stake in 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 bought a new stake in Montrose Environmental Group during the 3rd quarter worth approximately $99,000. 90.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

MEG has been the topic of a number of research analyst reports. Needham & Company LLC increased their price target on Montrose Environmental Group from $48.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, January 16th. Bank of America upgraded Montrose Environmental Group from a “neutral” rating to a “buy” rating in a research report on Monday, December 12th. Finally, Morgan Stanley decreased 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. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.67.

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.