Insider Buying: Montrose Environmental Group, Inc. (NYSE:MEG) Director Purchases $12,625.00 in Stock

Montrose Environmental Group, Inc. (NYSE:MEG) Director Janet Risi Field bought 500 shares of the stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $25.25 per share, for a total transaction of $12,625.00. Following the completion of the purchase, the director now directly owns 14,506 shares in the company, valued at $366,276.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Montrose Environmental Group Stock Down 1.4 %

Shares of NYSE:MEG opened at $29.42 on Thursday. The company has a market cap of $888.19 million, a PE ratio of -15.48 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.58. The stock’s 50-day moving average is $27.89 and its 200 day moving average is $35.22. Montrose Environmental Group, Inc. has a 1 year low of $21.96 and a 1 year high of $55.00.

Institutional Trading of Montrose Environmental Group

Several institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in shares of Montrose Environmental Group by 23.8% during the first quarter. Capital Research Global Investors now owns 2,699,774 shares of the company’s stock valued at $142,899,000 after buying an additional 519,892 shares during the last quarter. Emerald Advisers LLC boosted its holdings in shares of Montrose Environmental Group by 62.4% during the 3rd quarter. Emerald Advisers LLC now owns 777,221 shares of the company’s stock valued at $22,741,000 after acquiring an additional 298,629 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Montrose Environmental Group by 281.9% in the second quarter. Nuveen Asset Management LLC now owns 379,510 shares of the company’s stock worth $15,985,000 after acquiring an additional 280,130 shares during the period. BlackRock Inc. raised its holdings in shares of Montrose Environmental Group by 12.0% during the second quarter. BlackRock Inc. now owns 2,446,774 shares of the company’s stock valued at $103,058,000 after purchasing an additional 261,226 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new position in Montrose Environmental Group during the second quarter valued at approximately $10,280,000. 89.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of Montrose Environmental Group in a research note on Tuesday, September 19th. Royal Bank of Canada raised their price objective on Montrose Environmental Group from $31.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. upgraded shares of Montrose Environmental Group from a “neutral” rating to an “overweight” rating and cut their price target for the company from $46.00 to $41.00 in a research report on Thursday, November 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.75.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States and internationally. 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.