Montrose Environmental Group (NYSE:MEG) General Counsel Nasym Afsari Sells 43,348 Shares

Montrose Environmental Group, Inc. (NYSE:MEG) General Counsel Nasym Afsari sold 43,348 shares of Montrose Environmental Group stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.37, for a total transaction of $1,229,782.76. Following the completion of the sale, the general counsel owned 204,878 shares of the company’s stock, valued at approximately $5,812,388.86. This trade represents a 17.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Nasym Afsari also recently made the following trade(s):

• On Monday, March 2nd, Nasym Afsari sold 200 shares of Montrose Environmental Group stock. The shares were sold at an average price of $30.00, for a total transaction of $6,000.00.

Montrose Environmental Group Stock Down 3.9%

Shares of MEG traded down $1.12 during midday trading on Wednesday, hitting $27.26. The company had a trading volume of 259,444 shares, compared to its average volume of 386,703. The stock has a market cap of $980.81 million, a price-to-earnings ratio of -113.58, a PEG ratio of 2.06 and a beta of 1.92. The company’s 50 day moving average price is $24.13 and its 200 day moving average price is $26.23. 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, Inc. has a 52 week low of $10.51 and a 52 week high of $32.00.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, topping 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 business had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. During the same period last year, the firm earned ($0.90) earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

MEG has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Needham & Company LLC raised their target price on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Barclays lifted their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.67.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new position in shares of Montrose Environmental Group during the third quarter valued at $32,000. Canada Pension Plan Investment Board increased its stake in shares of Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after acquiring an additional 1,600 shares during the period. Tower Research Capital LLC TRC raised its holdings in Montrose Environmental Group by 95.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after purchasing an additional 1,508 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Montrose Environmental Group in the fourth quarter worth approximately $75,000. Finally, Assetmark Inc. bought a new position in Montrose Environmental Group during the 4th quarter valued at $84,000. 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.