Peter Graham Buys 4,860 Shares of Montrose Environmental Group (NYSE:ONT) Stock

Montrose Environmental Group, Inc. (NYSE:ONT) Director Peter Graham acquired 4,860 shares of Montrose Environmental Group stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $15.94 per share, for a total transaction of $77,468.40. Following the completion of the acquisition, the director directly owned 231,549 shares in the company, valued at approximately $3,690,891.06. This represents a 2.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Montrose Environmental Group Stock Down 1.7%

Shares of ONT traded down $0.30 during midday trading on Friday, reaching $17.19. The stock had a trading volume of 943,644 shares, compared to its average volume of 448,854. Montrose Environmental Group, Inc. has a 1-year low of $14.13 and a 1-year high of $32.00. The company’s fifty day simple moving average is $19.28 and its two-hundred day simple moving average is $22.79. The company has a market cap of $621.23 million, a price-to-earnings ratio of 343.87, a PEG ratio of 1.23 and a beta of 1.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ONT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Montrose Environmental Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after purchasing an additional 780 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Montrose Environmental Group by 39.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock worth $4,663,000 after purchasing an additional 92,671 shares during the last quarter. Rhumbline Advisers grew its position in Montrose Environmental Group by 27.9% during the 2nd quarter. Rhumbline Advisers now owns 57,667 shares of the company’s stock worth $1,262,000 after purchasing an additional 12,566 shares during the last quarter. Invesco Ltd. grew its position in Montrose Environmental Group by 13.1% during the 2nd quarter. Invesco Ltd. now owns 152,085 shares of the company’s stock worth $3,329,000 after purchasing an additional 17,601 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Montrose Environmental Group by 245.0% during the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after purchasing an additional 272,444 shares during the last quarter. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ONT. Barclays dropped their price objective on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Needham & Company LLC decreased their target price on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Finally, Zacks Research upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.67.

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.