Insider Buying: Montrose Environmental Group (NYSE:ONT) Director Buys $77,468.40 in Stock

Montrose Environmental Group, Inc. (NYSE:ONT) Director Peter Graham bought 4,860 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $15.94 per share, for a total transaction of $77,468.40. Following the purchase, the director directly owned 231,549 shares of the company’s stock, valued at $3,690,891.06. The trade was a 2.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Montrose Environmental Group Price Performance

ONT opened at $17.19 on Monday. Montrose Environmental Group, Inc. has a 1 year low of $14.13 and a 1 year high of $32.00. The firm has a market capitalization of $621.25 million, a PE ratio of 343.87, a price-to-earnings-growth ratio of 1.28 and a beta of 1.73. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50-day moving average is $19.17 and its two-hundred day moving average is $22.75.

Institutional Investors Weigh In On Montrose Environmental Group

A number of institutional investors and hedge funds have recently modified their holdings of ONT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Montrose Environmental Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after purchasing an additional 780 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Montrose Environmental Group by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock worth $4,663,000 after purchasing an additional 92,671 shares during the period. Rhumbline Advisers lifted its holdings in shares of Montrose Environmental Group by 27.9% during the second quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock worth $1,262,000 after purchasing an additional 12,566 shares during the period. Invesco Ltd. lifted its holdings in shares of Montrose Environmental Group by 13.1% during the second quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock worth $3,329,000 after purchasing an additional 17,601 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after purchasing an additional 272,444 shares during the period. Institutional investors and hedge funds own 87.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Needham & Company LLC dropped their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Finally, Barclays dropped their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. 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. According to data from MarketBeat.com, Montrose Environmental Group presently has an average rating of “Hold” and a consensus target price of $26.67.

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.