Key Points
- CEO Vijay Manthripragada sold 46,121 shares of Montrose Environmental Group on March 13 at an average price of $25.41 for a total of about $1.17 million, cutting his ownership by 16.3% to 236,788 shares (≈ $6.02 million).
- Montrose beat Q4 estimates with EPS of $0.35 (vs. $0.24 est.) and revenue of $193.27M (+2.2% YoY), but the company still shows a slight negative net margin and a negative trailing P/E; analysts have a consensus "Hold" rating with a $34.67 target.
Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report) CEO Vijay Manthripragada sold 46,121 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $25.41, for a total transaction of $1,171,934.61. Following the completion of the sale, the chief executive officer owned 236,788 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink.
Montrose Environmental Group Stock Performance
Shares of MEG stock opened at $23.53 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $846.54 million, a price-to-earnings ratio of -98.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.91. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The company has a 50 day moving average price of $24.24 and a 200 day moving average price of $26.07.
Montrose Environmental Group (NYSE:MEG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The company had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. During the same quarter last year, the business earned ($0.90) EPS. Montrose Environmental Group's revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.
Hedge Funds Weigh In On Montrose Environmental Group
Hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Montrose Environmental Group by 17.6% during the 4th quarter. Invesco Ltd. now owns 170,650 shares of the company's stock valued at $4,237,000 after acquiring an additional 25,518 shares in the last quarter. XTX Topco Ltd purchased a new stake in Montrose Environmental Group during the 4th quarter worth $386,000. Tudor Investment Corp ET AL increased its holdings in Montrose Environmental Group by 16.4% in the 4th quarter. Tudor Investment Corp ET AL now owns 168,699 shares of the company's stock valued at $4,189,000 after purchasing an additional 23,802 shares in the last quarter. Numerai GP LLC acquired a new stake in Montrose Environmental Group in the 4th quarter valued at $254,000. Finally, Gotham Asset Management LLC purchased a new position in Montrose Environmental Group in the fourth quarter valued at about $688,000. Hedge funds and other institutional investors own 87.87% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on MEG shares. Wall Street Zen cut Montrose Environmental Group from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Needham & Company LLC raised 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 investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Montrose Environmental Group presently has a consensus rating of "Hold" and a consensus target price of $34.67.
View Our Latest Analysis on MEG
About Montrose Environmental Group
(
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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