Insider Selling: Montrose Environmental Group (NYSE:MEG) CEO Sells $1,171,934.61 in Stock

Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada sold 46,121 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the transaction, the chief executive officer directly owned 236,788 shares in the company, valued at approximately $6,016,783.08. The trade was a 16.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Montrose Environmental Group Price Performance

MEG opened at $22.12 on Thursday. Montrose Environmental Group, Inc. has a twelve month low of $10.51 and a twelve month high of $32.00. The firm has a market cap of $795.77 million, a price-to-earnings ratio of -92.15, a PEG ratio of 1.67 and a beta of 1.92. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. The company has a fifty day simple moving average of $24.12 and a 200 day simple moving average of $25.98.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The firm had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.90) EPS. Equities research analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on MEG. Needham & Company LLC increased their price target on Montrose Environmental Group from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.67.

Institutional Investors Weigh In On Montrose Environmental Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in Montrose Environmental Group in the third quarter worth about $32,000. Canada Pension Plan Investment Board increased its holdings in Montrose Environmental Group by 533.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after buying an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC raised 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 valued at $68,000 after buying an additional 1,508 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in Montrose Environmental Group during the 4th quarter worth approximately $75,000. Finally, Assetmark Inc. bought a new position in Montrose Environmental Group during the 4th quarter worth approximately $84,000. Institutional investors own 87.87% of the company’s stock.

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.