Montrose Environmental Group (NYSE:ONT) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Montrose Environmental Group, Inc. (NYSE:ONT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.60 and traded as high as $22.50. Montrose Environmental Group shares last traded at $21.54, with a volume of 436,840 shares changing hands.

Analyst Ratings Changes

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

Montrose Environmental Group Stock Down 2.4%

The firm has a market capitalization of $778.46 million, a price-to-earnings ratio of 430.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84. The business’s 50 day moving average is $17.72 and its 200-day moving average is $21.60.

Insider Activity

In other Montrose Environmental Group news, CFO Allan Dicks bought 6,535 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $15.36 per share, with a total value of $100,377.60. Following the acquisition, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at $3,351,214.08. This represents a 3.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter Graham purchased 25,140 shares of the company’s stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $17.19 per share, for a total transaction of $432,156.60. Following the completion of the transaction, the director owned 256,689 shares in the company, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 36,535 shares of company stock worth $610,003. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Montrose Environmental Group

Hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. grew its stake in shares of Montrose Environmental Group by 3,733.3% in the first quarter. Hillsdale Investment Management Inc. now owns 11,500 shares of the company’s stock worth $252,000 after acquiring an additional 11,200 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Montrose Environmental Group by 5.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after purchasing an additional 66,543 shares during the period. Fifth Third Bancorp bought a new stake in Montrose Environmental Group in the 1st quarter valued at $201,000. Hsbc Holdings PLC grew its position in Montrose Environmental Group by 41.9% in the 1st quarter. Hsbc Holdings PLC now owns 15,228 shares of the company’s stock worth $328,000 after purchasing an additional 4,493 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of Montrose Environmental Group by 16.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company’s stock worth $1,828,000 after purchasing an additional 12,040 shares during the period. 87.87% of the stock is owned by institutional investors.

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.