Montrose Environmental Group (NYSE:ONT) CFO Buys $100,377.60 in Stock

Montrose Environmental Group, Inc. (NYSE:ONT) CFO Allan Dicks acquired 6,535 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the purchase, the chief financial officer directly owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Montrose Environmental Group Stock Down 2.1%

NYSE:ONT opened at $15.20 on Friday. The firm has a market capitalization of $549.33 million, a P/E ratio of 304.06, a PEG ratio of 1.44 and a beta of 1.83. Montrose Environmental Group, Inc. has a 1-year low of $15.01 and a 1-year high of $32.00. The company’s fifty day moving average price is $21.91 and its 200-day moving average price is $23.80. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84.

Montrose Environmental Group (NYSE:ONT) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The firm had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.90) earnings per share. As a group, equities research analysts anticipate that Montrose Environmental Group, Inc. will post 0.57 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on ONT. Wall Street Zen lowered shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Needham & Company LLC dropped their price target on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Zacks Research lowered shares of Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Montrose Environmental Group presently has an average rating of “Hold” and an average price target of $32.33.

Institutional Trading of Montrose Environmental Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ONT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Montrose Environmental Group by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after purchasing an additional 780 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Montrose Environmental Group by 39.6% during the first quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after purchasing an additional 92,671 shares in the last quarter. Rhumbline Advisers lifted its holdings in Montrose Environmental Group by 27.9% during the second quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock valued at $1,262,000 after purchasing an additional 12,566 shares in the last quarter. Invesco Ltd. lifted its holdings in Montrose Environmental Group by 13.1% during the second quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock valued at $3,329,000 after purchasing an additional 17,601 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after purchasing an additional 272,444 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Montrose Environmental Group Company Profile

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.