Insider Selling: Montrose Environmental Group, Inc. (NYSE:MEG) CFO Sells 13,972 Shares of Stock

Montrose Environmental Group, Inc. (NYSE:MEG) CFO Allan Dicks sold 13,972 shares of the company’s stock in a transaction that occurred on Tuesday, September 21st. The shares were sold at an average price of $60.11, for a total value of $839,856.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Allan Dicks also recently made the following trade(s):

  • On Thursday, September 16th, Allan Dicks sold 819 shares of Montrose Environmental Group stock. The shares were sold at an average price of $60.00, for a total value of $49,140.00.

Shares of NYSE MEG traded up $1.66 during trading on Thursday, reaching $63.56. The company had a trading volume of 166,094 shares, compared to its average volume of 197,236. The stock has a market cap of $1.67 billion, a PE ratio of -14.28 and a beta of 0.80. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.70. Montrose Environmental Group, Inc. has a 12-month low of $21.98 and a 12-month high of $64.39. The business’s 50-day moving average is $51.78 and its 200 day moving average is $51.09.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Monday, August 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.63). The business had revenue of $136.22 million for the quarter, compared to the consensus estimate of $118.95 million. Montrose Environmental Group had a negative net margin of 12.08% and a positive return on equity of 2.78%. On average, analysts anticipate that Montrose Environmental Group, Inc. will post 0.09 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Montrose Environmental Group by 1,181.8% in the first quarter. Royal Bank of Canada now owns 1,897 shares of the company’s stock valued at $95,000 after acquiring an additional 1,749 shares during the period. Tortoise Index Solutions LLC bought a new position in Montrose Environmental Group in the second quarter valued at about $129,000. SG Americas Securities LLC bought a new position in Montrose Environmental Group in the first quarter valued at about $159,000. Legal & General Group Plc lifted its holdings in Montrose Environmental Group by 13.0% in the second quarter. Legal & General Group Plc now owns 3,244 shares of the company’s stock valued at $174,000 after acquiring an additional 373 shares during the period. Finally, Amalgamated Bank bought a new position in Montrose Environmental Group in the second quarter valued at about $227,000. 71.32% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on Montrose Environmental Group from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 16th. Zacks Investment Research cut Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $62.00 price target on shares of Montrose Environmental Group in a research note on Wednesday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.61.

About Montrose Environmental Group

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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