Key Points
- Director J. Thomas Presby sold 10,000 shares of Montrose Environmental Group on March 2 at an average price of $28.87 for about $288,700, cutting his stake by 13.77% to 62,614 shares; the sale was disclosed in an SEC filing.
- Shares traded around $27.70 with a market cap near $996.7M; the company reported quarterly EPS of $0.35 (above the $0.24 estimate) on $193.3M revenue, but still shows a negative trailing P/E and carries a MarketBeat consensus rating of "Hold" with an average target of $34.67.
Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) Director J Thomas Presby sold 10,000 shares of Montrose Environmental Group stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $28.87, for a total value of $288,700.00. Following the completion of the sale, the director directly owned 62,614 shares of the company's stock, valued at approximately $1,807,666.18. The trade was a 13.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Montrose Environmental Group Stock Performance
Shares of NYSE:MEG traded up $0.44 during midday trading on Thursday, reaching $27.70. 12,845 shares of the company's stock traded hands, compared to its average volume of 377,933. The company has a market cap of $996.67 million, a price-to-earnings ratio of -115.41, a P/E/G ratio of 1.72 and a beta of 1.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.43 and a current ratio of 1.43. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The stock has a 50 day moving average of $24.15 and a 200 day moving average of $26.24.
Montrose Environmental Group (NYSE:MEG - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The company had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. During the same period last year, the company earned ($0.90) EPS. Montrose Environmental Group's revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
MEG has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Friday, November 7th. Wall Street Zen cut Montrose Environmental Group from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Finally, Needham & Company LLC lifted their price objective on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $34.67.
Read Our Latest Research Report on Montrose Environmental Group
Institutional Trading of Montrose Environmental Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lisanti Capital Growth LLC purchased a new stake in shares of Montrose Environmental Group in the third quarter worth $2,803,000. Peregrine Capital Management LLC lifted its stake in shares of Montrose Environmental Group by 16.6% during the 3rd quarter. Peregrine Capital Management LLC now owns 283,899 shares of the company's stock valued at $7,796,000 after buying an additional 40,393 shares in the last quarter. Atria Investments Inc bought a new position in Montrose Environmental Group in the 2nd quarter worth $266,000. Global Alpha Capital Management Ltd. increased its stake in Montrose Environmental Group by 46.2% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 162,982 shares of the company's stock worth $3,568,000 after buying an additional 51,476 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Montrose Environmental Group in the 2nd quarter worth $502,000. 87.87% of the stock is owned by hedge funds and other institutional investors.
Montrose Environmental Group Company Profile
(
Get Free Report)
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.
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