Montrose Environmental Group (NYSE:ONT) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Montrose Environmental Group, Inc. (NYSE:ONT) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.60 and traded as high as $22.50. Montrose Environmental Group shares last traded at $21.54, with a volume of 436,840 shares traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on ONT shares. Barclays reduced their target price on shares of Montrose Environmental Group from $40.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, May 18th. 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 report on Friday, May 8th. Zacks Research raised Montrose Environmental Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Montrose Environmental Group in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.67.

Montrose Environmental Group Stock Performance

The firm’s 50 day simple moving average is $17.72 and its 200-day simple moving average is $21.60. The company has a market capitalization of $778.46 million, a price-to-earnings ratio of 430.89, a P/E/G ratio of 1.65 and a beta of 1.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.84 and a current ratio of 1.84.

Insider Activity

In other Montrose Environmental Group news, CFO Allan Dicks bought 6,535 shares of the company’s 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 directly owned 218,178 shares of the company’s stock, valued at approximately $3,351,214.08. This trade represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter Graham purchased 25,140 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $17.19 per share, with a total value of $432,156.60. Following the completion of the acquisition, the director owned 256,689 shares of the company’s stock, valued at $4,412,483.91. This trade represents a 10.86% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 36,535 shares of company stock valued at $610,003. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Montrose Environmental Group

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