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

Montrose Environmental Group, Inc. (NYSE:ONT) Director Peter Graham acquired 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, for a total transaction of $77,468.40. Following the completion of the transaction, the director directly owned 231,549 shares in the company, valued at $3,690,891.06. This trade represents a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock opened at $17.19 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.84. Montrose Environmental Group, Inc. has a 1-year low of $14.13 and a 1-year high of $32.00. The firm has a market capitalization of $621.25 million, a P/E ratio of 343.87, a price-to-earnings-growth ratio of 1.30 and a beta of 1.72. The company’s 50-day moving average is $19.17 and its 200 day moving average is $22.75.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ONT. Needham & Company LLC reduced their price objective on shares of Montrose Environmental Group from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Barclays reduced their price objective on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. Zacks Research upgraded shares of Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.67.

Hedge Funds Weigh In On Montrose Environmental Group

A number of hedge funds have recently added to or reduced their stakes in ONT. Alliancebernstein L.P. grew its stake in Montrose Environmental Group by 3,407.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock worth $28,080,000 after acquiring an additional 1,246,199 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Montrose Environmental Group by 128.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,733,003 shares of the company’s stock valued at $43,030,000 after buying an additional 975,770 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Montrose Environmental Group during the fourth quarter valued at approximately $10,140,000. Marshall Wace LLP increased its holdings in Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock valued at $8,398,000 after buying an additional 272,444 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Montrose Environmental Group by 14.1% during the fourth 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 buying an additional 179,855 shares during the period. 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.