Montrose Environmental Group (NYSE:ONT) Sees Unusually-High Trading Volume – Should You Buy?

Montrose Environmental Group, Inc. (NYSE:ONT) saw strong trading volume on Wednesday . Approximately 537,500 shares changed hands during mid-day trading, an increase of 15% from the previous session’s volume of 465,499 shares.The stock last traded at $17.63 and had previously closed at $16.80.

Analyst Ratings Changes

Several analysts have recently weighed in on ONT shares. Zacks Research upgraded shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Needham & Company LLC cut their target price on shares of 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. Barclays reduced their target price on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.67.

Montrose Environmental Group Stock Performance

The firm has a market cap of $639.32 million, a PE ratio of 353.87, a price-to-earnings-growth ratio of 1.22 and a beta of 1.72. The company has a 50 day simple moving average of $17.90 and a 200-day simple moving average of $22.04. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84.

Insider Buying and Selling at Montrose Environmental Group

In other Montrose Environmental Group news, Director Peter Graham purchased 25,140 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of $17.19 per share, with a total value of $432,156.60. Following the completion of the purchase, the director directly owned 256,689 shares of the company’s stock, valued at approximately $4,412,483.91. This trade represents a 10.86% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Allan Dicks purchased 6,535 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $15.36 per share, with a total value of $100,377.60. Following the completion of the transaction, the chief financial officer 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 SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 36,535 shares of company stock worth $610,003. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Montrose Environmental Group by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock valued at $261,000 after acquiring an additional 488 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Montrose Environmental Group by 2.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after purchasing an additional 515 shares during the period. CWM LLC lifted its position in Montrose Environmental Group by 8.6% in the fourth quarter. CWM LLC now owns 8,324 shares of the company’s stock valued at $207,000 after purchasing an additional 659 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Montrose Environmental Group by 4.3% in 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 during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its stake in shares of Montrose Environmental Group by 0.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,430 shares of the company’s stock valued at $7,618,000 after purchasing an additional 786 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s stock.

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.