Key Points
- CFO Allan Dicks bought 6,535 shares of Montrose Environmental Group at $15.36 each, a $100,377.60 purchase that lifted his direct holdings to 218,178 shares. The filing showed the transaction increased his position by 3.09%.
- ONT shares were under pressure, opening at $15.75 and sitting near the stock’s 52-week low of $15.18. The stock also trades well below its 50-day and 200-day moving averages.
- Recent analyst sentiment is mixed, with several downgrades and a consensus rating of Hold. Needham trimmed its price target to $28, while the current average target price stands at $32.33.
Montrose Environmental Group, Inc. (NYSE:ONT - Get Free Report) CFO Allan Dicks purchased 6,535 shares of the firm's stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $15.36 per share, for a total transaction of $100,377.60. Following the completion of the purchase, the chief financial officer directly owned 218,178 shares of the company's stock, valued at approximately $3,351,214.08. This represents a 3.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Montrose Environmental Group Stock Down 1.1%
Shares of NYSE ONT opened at $15.75 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm's fifty day moving average is $22.43 and its 200 day moving average is $23.99. The company has a market cap of $569.21 million, a price-to-earnings ratio of 315.06, a PEG ratio of 1.09 and a beta of 1.83. Montrose Environmental Group, Inc. has a 52 week low of $15.18 and a 52 week high of $32.00.
Montrose Environmental Group (NYSE:ONT - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $193.27 million during the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. Montrose Environmental Group's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.90) earnings per share. On average, equities research analysts expect that Montrose Environmental Group, Inc. will post 0.78 earnings per share for the current year.
Institutional Investors Weigh In On Montrose Environmental Group
Several large investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. increased its position in 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 purchasing an additional 11,200 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 worth $29,470,000 after purchasing an additional 66,543 shares during the period. Fifth Third Bancorp purchased a new position in shares of Montrose Environmental Group in the 1st quarter worth approximately $201,000. Hsbc Holdings PLC increased its position in Montrose Environmental Group by 41.9% during the first quarter. Hsbc Holdings PLC now owns 15,228 shares of the company's stock valued at $328,000 after acquiring an additional 4,493 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its position in Montrose Environmental Group by 16.8% during the first quarter. Conestoga Capital Advisors LLC now owns 83,515 shares of the company's stock valued at $1,828,000 after acquiring an additional 12,040 shares during the last quarter. Institutional investors own 87.87% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on ONT shares. Wall Street Zen downgraded shares of Montrose Environmental Group from a "buy" rating to a "hold" rating in a research report on Saturday, January 17th. Needham & Company LLC dropped their price objective 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. Finally, Zacks Research downgraded shares of Montrose Environmental Group from a "hold" rating to a "strong sell" rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $32.33.
View Our Latest Analysis on Montrose Environmental Group
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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