Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada Sells 66,103 Shares

Montrose Environmental Group, Inc. (NYSE:MEG) CEO Vijay Manthripragada sold 66,103 shares of Montrose Environmental Group stock in a transaction that occurred on Friday, September 24th. The stock was sold at an average price of $66.14, for a total value of $4,372,052.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

MEG traded up $3.44 on Friday, reaching $67.00. The company had a trading volume of 445,599 shares, compared to its average volume of 198,585. The company has a market capitalization of $1.76 billion, a P/E ratio of -15.06 and a beta of 0.80. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70. The company has a fifty day moving average of $52.16 and a 200-day moving average of $51.29. Montrose Environmental Group, Inc. has a one year low of $21.98 and a one year high of $67.98.

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

MEG has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of Montrose Environmental Group in a report on Wednesday, July 7th. Zacks Investment Research lowered Montrose Environmental Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 12th. Finally, Morgan Stanley raised their target price on Montrose Environmental Group from $46.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.61.

Institutional investors have recently made changes to their positions in the company. Fred Alger Management LLC bought a new position in Montrose Environmental Group during the first quarter valued at about $64,041,000. BlackRock Inc. boosted its position in shares of Montrose Environmental Group by 59.6% during the 1st quarter. BlackRock Inc. now owns 1,462,340 shares of the company’s stock valued at $73,394,000 after purchasing an additional 545,897 shares in the last quarter. Sandler Capital Management acquired a new position in shares of Montrose Environmental Group in the 1st quarter worth approximately $11,062,000. Morgan Stanley raised its holdings in shares of Montrose Environmental Group by 1,866.3% in the 2nd quarter. Morgan Stanley now owns 162,613 shares of the company’s stock worth $8,726,000 after purchasing an additional 154,343 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Montrose Environmental Group by 54.4% during the first quarter. Northern Trust Corp now owns 252,128 shares of the company’s stock valued at $12,655,000 after purchasing an additional 88,790 shares during the last quarter. Institutional investors and hedge funds own 71.32% of the company’s stock.

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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