Richard E. Perlman Sells 64,675 Shares of Montrose Environmental Group, Inc. (NYSE:MEG) Stock

Montrose Environmental Group, Inc. (NYSE:MEG) Director Richard E. Perlman sold 64,675 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $57.61, for a total transaction of $3,725,926.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of MEG opened at $57.89 on Wednesday. The company has a market capitalization of $1.52 billion, a P/E ratio of -13.01 and a beta of 0.80. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.70. The firm has a 50 day moving average of $50.12 and a 200 day moving average of $50.44. Montrose Environmental Group, Inc. has a twelve month low of $21.98 and a twelve month high of $59.62.

Montrose Environmental Group (NYSE:MEG) last posted its earnings results on Monday, August 9th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.63). Montrose Environmental Group had a positive return on equity of 2.78% and a negative net margin of 12.08%. The company had revenue of $136.22 million during the quarter, compared to the consensus estimate of $118.95 million. On average, sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.09 EPS for the current year.

MEG has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Montrose Environmental Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 target price on shares of Montrose Environmental Group in a research note on Wednesday, July 7th. Finally, Morgan Stanley raised their target price on shares of Montrose Environmental Group from $46.00 to $49.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.61.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Montrose Environmental Group by 4.5% in the 2nd quarter. BlackRock Inc. now owns 1,528,865 shares of the company’s stock worth $82,039,000 after purchasing an additional 66,525 shares during the period. Fred Alger Management LLC bought a new stake in Montrose Environmental Group in the 1st quarter worth approximately $64,041,000. Vanguard Group Inc. grew its position in Montrose Environmental Group by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 979,616 shares of the company’s stock worth $52,565,000 after purchasing an additional 77,412 shares during the period. William Blair Investment Management LLC grew its position in Montrose Environmental Group by 3.8% in the 1st quarter. William Blair Investment Management LLC now owns 777,065 shares of the company’s stock worth $39,001,000 after purchasing an additional 28,705 shares during the period. Finally, Federated Hermes Inc. grew its position in Montrose Environmental Group by 7.9% in the 2nd quarter. Federated Hermes Inc. now owns 728,500 shares of the company’s stock worth $39,091,000 after purchasing an additional 53,500 shares during the period. 71.32% of the stock is owned by institutional investors and hedge funds.

About Montrose Environmental Group

Montrose Environmental Group, Inc operates as an environmental services company in the United States. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments, environmental emergency response and recovery, toxicology consulting and environmental audits and permits for current operations, facility upgrades, new projects, decommissioning projects, and development projects.

Featured Story: Options Trading – What is a Straddle?

Insider Buying and Selling by Quarter for Montrose Environmental Group (NYSE:MEG)

Receive News & Ratings for Montrose Environmental Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Montrose Environmental Group and related companies with MarketBeat.com's FREE daily email newsletter.