Montrose Environmental Group (NYSE:MEG) Stock Price Down 4.7% – Time to Sell?

Montrose Environmental Group, Inc. (NYSE:MEG) was down 4.7% during trading on Monday . The stock traded as low as $23.81 and last traded at $23.74. Approximately 130,779 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 386,698 shares. The stock had previously closed at $24.91.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Needham & Company LLC raised their price target on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.67.

Montrose Environmental Group Price Performance

The business has a fifty day moving average of $24.29 and a 200 day moving average of $26.11. The firm has a market cap of $846.54 million, a P/E ratio of -98.03, a PEG ratio of 1.82 and a beta of 1.91. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.68.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The company had revenue of $193.27 million during the quarter, compared to analysts’ expectations of $186.24 million. During the same period last year, the firm posted ($0.90) earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Montrose Environmental Group

In other Montrose Environmental Group news, Director J Thomas Presby sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $28.87, for a total transaction of $288,700.00. Following the completion of the sale, the director directly owned 62,614 shares in the company, valued at $1,807,666.18. This trade represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Nasym Afsari sold 43,348 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $28.37, for a total value of $1,229,782.76. Following the sale, the general counsel owned 204,878 shares of the company’s stock, valued at approximately $5,812,388.86. This represents a 17.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,406 shares of company stock valued at $1,736,649 in the last three months. 11.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Montrose Environmental Group

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in shares of Montrose Environmental Group during the 3rd quarter valued at $32,000. Canada Pension Plan Investment Board boosted its position in shares of Montrose Environmental Group by 533.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock worth $42,000 after acquiring an additional 1,600 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new stake in Montrose Environmental Group during the fourth quarter worth $75,000. Tower Research Capital LLC TRC raised its holdings in shares of Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after buying an additional 1,508 shares in the last quarter. Finally, Assetmark Inc. acquired a new stake in Montrose Environmental Group in the fourth quarter valued at about $84,000. 87.87% of the stock is currently owned by institutional investors.

About Montrose Environmental Group

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.