Montrose Environmental Group, Inc. (NYSE:MEG) Director Richard E. Perlman Sells 31,035 Shares

Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) Director Richard E. Perlman sold 31,035 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 870,800 shares of the company’s stock, valued at $45,908,576. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Montrose Environmental Group Stock Up 0.3 %

Shares of NYSE MEG opened at $53.16 on Wednesday. The firm has a market capitalization of $1.58 billion, a PE ratio of -40.58 and a beta of 1.63. 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’s 50-day moving average is $46.27 and its 200-day moving average is $42.28.

Montrose Environmental Group (NYSE:MEG – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($0.33) earnings per share 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 company had revenue of $130.31 million during the quarter, compared to the consensus estimate of $141.46 million. Equities analysts expect that Montrose Environmental Group, Inc. will post -1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MEG. Needham & Company LLC upped their price objective 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. Morgan Stanley decreased their price objective on shares of Montrose Environmental Group from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Wednesday, December 14th. 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 analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Montrose Environmental Group presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Hedge Funds Weigh In On Montrose Environmental Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors bought a new stake in shares of Montrose Environmental Group in the first quarter valued at about $29,000. Stephens Inc. AR lifted its holdings in shares of Montrose Environmental Group by 33.7% in 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 in the second quarter worth about $57,000. Tower Research Capital LLC TRC lifted its holdings in shares of Montrose Environmental Group by 38.5% in 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 bought a new position in shares of Montrose Environmental Group in the third quarter worth about $99,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.

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.