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

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

Montrose Environmental Group Trading Down 1.7%

Montrose Environmental Group stock opened at $17.19 on Friday. The firm has a 50 day moving average of $19.17 and a 200 day moving average of $22.75. The firm has a market capitalization of $621.25 million, a price-to-earnings ratio of 343.87, a P/E/G ratio of 1.28 and a beta of 1.72. Montrose Environmental Group, Inc. has a 12-month low of $14.13 and a 12-month high of $32.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76.

Analysts Set New Price Targets

ONT has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Barclays dropped their price target on Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. Needham & Company LLC dropped their price target on Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Zacks Research upgraded Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY boosted its stake in Montrose Environmental Group by 2.5% in the 2nd quarter. Bamco Inc. NY now owns 2,764,395 shares of the company’s stock worth $60,513,000 after purchasing an additional 68,713 shares during the period. Vanguard Group Inc. boosted its position in shares of Montrose Environmental Group by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 1,986,620 shares of the company’s stock valued at $49,328,000 after acquiring an additional 57,437 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Montrose Environmental Group by 128.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after acquiring an additional 975,770 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Montrose Environmental Group by 14.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,574 shares of the company’s stock valued at $36,192,000 after acquiring an additional 179,855 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Montrose Environmental Group by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,346,257 shares of the company’s stock valued at $29,470,000 after acquiring an additional 66,543 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors.

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.