Montrose Environmental Group (NYSE:MEG) General Counsel Nasym Afsari Sells 43,348 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:MEG) General Counsel Nasym Afsari sold 43,348 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $28.37, for a total value of $1,229,782.76. Following the completion of the transaction, the general counsel owned 204,878 shares in the company, valued at approximately $5,812,388.86. This trade represents a 17.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nasym Afsari also recently made the following trade(s):

• On Monday, March 2nd, Nasym Afsari sold 200 shares of Montrose Environmental Group stock. The shares were sold at an average price of $30.00, for a total value of $6,000.00.

Montrose Environmental Group Price Performance

Shares of NYSE MEG opened at $27.26 on Thursday. The firm has a 50-day simple moving average of $24.15 and a 200-day simple moving average of $26.24. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $980.84 million, a price-to-earnings ratio of -113.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.92. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $32.00.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. Montrose Environmental Group’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.90) EPS. On average, equities analysts predict that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in Montrose Environmental Group in the third quarter valued at $32,000. Canada Pension Plan Investment Board raised its position in shares of Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after purchasing an additional 1,508 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new position in Montrose Environmental Group in the fourth quarter valued at approximately $75,000. Finally, Assetmark Inc. purchased a new position in Montrose Environmental Group in the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Analysts Set New Price Targets

MEG has been the topic of a number of recent analyst reports. Needham & Company LLC upped their price objective on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Barclays boosted their price objective on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.67.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.