Montrose Environmental Group (NYSE:MEG) Trading Down 5.2%

Montrose Environmental Group, Inc. (NYSE:MEG)’s stock price traded down 5.2% during mid-day trading on Thursday . The company traded as low as $45.37 and last traded at $45.37. 198,714 shares were traded during trading, a decline of 21% from the average session volume of 252,797 shares. The stock had previously closed at $47.87.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MEG shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, Needham & Company LLC restated a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a research report on Thursday, May 9th.

Montrose Environmental Group Price Performance

The firm’s fifty day moving average is $45.75 and its two-hundred day moving average is $38.56. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.63 and a quick ratio of 1.63.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Montrose Environmental Group had a negative return on equity of 1.78% and a negative net margin of 4.55%. The business had revenue of $155.33 million for the quarter, compared to the consensus estimate of $152.61 million. On average, analysts anticipate that Montrose Environmental Group, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 value of $581,375.00. Following the completion of the transaction, the chief executive officer now owns 316,637 shares of the company’s stock, valued at $14,726,786.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its position in Montrose Environmental Group by 453.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock worth $53,000 after purchasing an additional 1,111 shares in the last quarter. Global Retirement Partners LLC grew its position in Montrose Environmental Group by 182.2% during the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock worth $98,000 after acquiring an additional 1,971 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after purchasing an additional 504 shares in the last quarter. Cladis Investment Advisory LLC bought a new position in Montrose Environmental Group in the fourth quarter valued at about $209,000. Finally, Mainsail Asset Management LLC bought a new stake in shares of Montrose Environmental Group during the first quarter worth about $217,000. Institutional investors own 87.87% of the company’s stock.

About Montrose Environmental Group

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.