Insider Selling: Montrose Environmental Group, Inc. (NYSE:MEG) CEO Sells 12,500 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada sold 12,500 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $46.51, for a total transaction of $581,375.00. Following the transaction, the chief executive officer now owns 316,637 shares in the company, valued at $14,726,786.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Montrose Environmental Group Stock Performance

NYSE MEG traded down $0.22 during trading on Thursday, reaching $43.05. The company’s stock had a trading volume of 405,178 shares, compared to its average volume of 259,413. The firm has a 50 day moving average price of $41.01 and a 200 day moving average price of $33.89. Montrose Environmental Group, Inc. has a 12 month low of $21.96 and a 12 month high of $47.94. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -27.23 and a beta of 1.91. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.50.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.08. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. The business had revenue of $165.74 million during the quarter, compared to analysts’ expectations of $157.31 million. As a group, equities analysts anticipate that Montrose Environmental Group, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its stake in Montrose Environmental Group by 453.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock worth $53,000 after buying an additional 1,111 shares in the last quarter. Global Retirement Partners LLC raised its position in Montrose Environmental Group by 182.2% during the fourth quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock valued at $98,000 after purchasing an additional 1,971 shares in the last quarter. Quantbot Technologies LP bought a new stake in Montrose Environmental Group during the third quarter worth $109,000. Cladis Investment Advisory LLC bought a new stake in Montrose Environmental Group during the fourth quarter worth $209,000. Finally, Versor Investments LP bought a new position in shares of Montrose Environmental Group in the 3rd quarter valued at $214,000. Institutional investors own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MEG. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price target on shares of Montrose Environmental Group in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $51.00 target price (up previously from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd.

Montrose Environmental Group Company Profile

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.