Montrose Environmental Group, Inc. (NYSE:MEG) Director James K. Price Acquires 13,340 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) Director James K. Price acquired 13,340 shares of Montrose Environmental Group stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average price of $37.47 per share, with a total value of $499,849.80. Following the transaction, the director now owns 1,019,563 shares of the company’s stock, valued at $38,203,025.61. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of MEG opened at $39.21 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 1.99. The firm has a 50 day simple moving average of $48.60 and a 200-day simple moving average of $56.21. Montrose Environmental Group, Inc. has a 1-year low of $35.23 and a 1-year high of $80.42. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -28.83 and a beta of 1.33.

Montrose Environmental Group (NYSE:MEG – Get Rating) last issued its quarterly earnings data on Monday, February 28th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.21). The business had revenue of $143.79 million for the quarter, compared to analysts’ expectations of $122.23 million. Montrose Environmental Group had a negative return on equity of 1.47% and a negative net margin of 3.89%. On average, equities analysts expect that Montrose Environmental Group, Inc. will post -0.65 earnings per share for the current fiscal year.

A number of brokerages recently commented on MEG. JPMorgan Chase & Co. upgraded shares of Montrose Environmental Group from a “neutral” rating to an “overweight” rating and set a $47.00 price objective for the company in a research report on Wednesday, May 11th. Needham & Company LLC dropped their target price on shares of Montrose Environmental Group from $84.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, March 1st. Zacks Investment Research cut shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a report on Saturday, March 5th. Finally, TheStreet raised shares of Montrose Environmental Group from a “d” rating to a “c-” rating in a report on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Montrose Environmental Group currently has a consensus rating of “Hold” and an average target price of $52.06.

A number of hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake in Montrose Environmental Group by 3.6% in the 3rd quarter. Arizona State Retirement System now owns 6,033 shares of the company’s stock worth $372,000 after acquiring an additional 210 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Montrose Environmental Group by 2.7% in the 3rd quarter. Voya Investment Management LLC now owns 9,129 shares of the company’s stock valued at $564,000 after purchasing an additional 244 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Montrose Environmental Group by 8.0% in the 4th quarter. Victory Capital Management Inc. now owns 4,035 shares of the company’s stock valued at $285,000 after purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC boosted its holdings in shares of Montrose Environmental Group by 42.9% in the 1st quarter. Atticus Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Montrose Environmental Group by 3.9% in the 4th quarter. Legal & General Group Plc now owns 8,087 shares of the company’s stock valued at $570,000 after purchasing an additional 304 shares during the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Montrose Environmental Group (Get Rating)

Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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.

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