Montrose Environmental Group, Inc. $ONT Shares Acquired by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its stake in Montrose Environmental Group, Inc. (NYSE:ONT) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 704,702 shares of the company’s stock after acquiring an additional 43,774 shares during the quarter. Stephens Investment Management Group LLC owned 1.99% of Montrose Environmental Group worth $17,498,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versor Investments LP lifted its holdings in Montrose Environmental Group by 69.8% during the fourth quarter. Versor Investments LP now owns 22,750 shares of the company’s stock valued at $565,000 after purchasing an additional 9,350 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Montrose Environmental Group during the fourth quarter worth about $1,043,000. Conestoga Capital Advisors LLC raised its position in shares of Montrose Environmental Group by 2.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 71,475 shares of the company’s stock worth $1,775,000 after purchasing an additional 1,795 shares during the last quarter. Vanguard Group Inc. raised 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 worth $49,328,000 after purchasing an additional 57,437 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Montrose Environmental Group by 63.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 116,415 shares of the company’s stock valued at $2,891,000 after buying an additional 45,124 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

ONT opened at $15.18 on Monday. Montrose Environmental Group, Inc. has a twelve month low of $14.89 and a twelve month high of $32.00. The firm has a market capitalization of $548.61 million, a PE ratio of 303.66, a PEG ratio of 1.42 and a beta of 1.83. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $21.66 and its 200 day moving average price is $23.71.

Montrose Environmental Group (NYSE:ONT) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. Montrose Environmental Group had a net margin of 0.71% and a return on equity of 5.61%. Montrose Environmental Group’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.90) EPS. As a group, sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.57 EPS for the current fiscal year.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, General Counsel Nasym Afsari sold 43,348 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $28.37, for a total value of $1,229,782.76. Following the completion of the sale, the general counsel directly owned 204,878 shares of the company’s stock, valued at $5,812,388.86. This trade represents a 17.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Allan Dicks purchased 6,535 shares of Montrose Environmental Group stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $15.36 per share, for a total transaction of $100,377.60. Following the acquisition, the chief financial officer owned 218,178 shares in the company, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 107,527 shares of company stock valued at $2,908,583. 10.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Needham & Company LLC cut their price objective 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. Zacks Research cut Montrose Environmental Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.33.

Montrose Environmental Group 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.