Montrose Environmental Group Inc (NYSE: MEG) is -17.43% lower on its value in year-to-date trading and has touched a low of $19.59 and a high of $49.97 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MEG stock was last observed hovering at around $26.89 in the last trading session, with the day’s loss setting it -0.36%.
Currently trading at $26.53, the stock is 7.15% and -7.31% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.08 million and changing -1.34% at the moment leaves the stock -26.49% off its SMA200. MEG registered -0.97% loss for a year compared to 6-month loss of -28.59%. The firm has a 50-day simple moving average (SMA 50) of $28.6786 and a 200-day simple moving average (SMA200) of $36.11935.
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The stock witnessed a -10.85% gain in the last 1 month and extending the period to 3 months gives it a -28.72%, and is 30.37% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.57% over the week and 7.12% over the month.
Montrose Environmental Group Inc (MEG) has around 3100 employees, a market worth around $908.12M and $662.33M in sales. Profit margin for the company is -6.98%. Distance from 52-week low is 35.43% and -46.91% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.02%).
Montrose Environmental Group Inc quarterly earnings per share for the current quarter are estimated at -0.09 with sales reaching $185.47M over the same period.The EPS is expected to grow by 47.77% this year, but quarterly earnings will post 14.20% year-over-year. Quarterly sales are estimated to grow 10.70% in year-over-year returns.
263.0 institutions hold shares in Montrose Environmental Group Inc (MEG), with institutional investors hold 108.95% of the company’s shares. The shares outstanding are 34.23M, and float is at 31.09M with Short Float at 10.51%. Institutions hold 101.43% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 2.52 million shares valued at $112.15 million. The investor’s holdings represent 8.284 of the MEG Shares outstanding. As of 2024-06-30, the second largest holder is UBS ASSET MANAGEMENT AMERICAS INC with 2.36 million shares valued at $105.36 million to account for 7.7828 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 1.75 million shares representing 5.762 and valued at over $78.0 million, while FRED ALGER MANAGEMENT, LLC holds 4.594 of the shares totaling 1.4 million with a market value of $62.19 million.
Montrose Environmental Group Inc (MEG) Insider Activity
The most recent transaction is an insider sale by Manthripragada Vijay, the company’s President & CEO. SEC filings show that Manthripragada Vijay sold 12,500 shares of the company’s common stock on May 06 ’24 at a price of $46.51 per share for a total of $0.58 million. Following the sale, the insider now owns 0.32 million shares.
Montrose Environmental Group Inc disclosed in a document filed with the SEC on Nov 10 ’23 that Dicks Allan (Chief Financial Officer) bought a total of 2,000 shares of the company’s common stock. The trade occurred on Nov 10 ’23 and was made at $25.68 per share for $51370.0. Following the transaction, the insider now directly holds 0.26 million shares of the MEG stock.
Still, SEC filings show that on Nov 10 ’23, Field Janet Risi (Director) acquired 500 shares at an average price of $25.25 for $12628.0. The insider now directly holds 14,506 shares of Montrose Environmental Group Inc (MEG).
