Checking in on Montrose Environmental Group Inc. (MEG) after recent insiders movement


Montrose Environmental Group Inc.’s filing revealed that its Director Field Janet Risi acquired Company’s shares for reported $36050.0 on May 12. In the deal valued at $36.05 per share,1,000 shares were bought. As a result of this transaction, Field Janet Risi now holds 14,006 shares worth roughly $ 0.54 million.

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Then, PRICE JAMES K bought 27,636 shares, generating $999,982 in total proceeds. Upon buying the shares at $36.18, the Director now owns 1,061,484 shares.

Before that, PRESBY J THOMAS bought 5,000 shares. Montrose Environmental Group Inc. shares valued at $180,775 were divested by the Director at a price of $36.16 per share. As a result of the transaction, PRESBY J THOMAS now holds 43,832 shares, worth roughly $1.7 million.

JP Morgan downgraded its Montrose Environmental Group Inc. [MEG] rating to a Neutral from a an Overweight in a research note published on Friday. PT values the company’s stock at a premium of 0.38 to its Friday closing price.

Price Performance Review of MEG

On Friday, Montrose Environmental Group Inc. [NYSE:MEG] saw its stock jump 1.07% to $38.85. On the same session, the stock had its day’s lowest price of $38.43, but rose to a high of $39.48. Over the last five days, the stock has gained 1.09%. Montrose Environmental Group Inc. shares have fallen nearly -12.48% since the year began. Nevertheless, the stocks have fallen -3.38% over the past one year. While a 52-week high of $55.00 was reached on 02/02/23, a 52-week low of $28.64 was recorded on 04/25/23. SMA at 50 days reached $40.63, while 200 days put it at $41.24. A total of 89690.0 shares were traded, compared to the trading of 0.17 million shares in the previous session.

Levels Of Support And Resistance For MEG Stock

The 24-hour chart illustrates a support level at 38.36, which if violated will result in even more drops to 37.87. On the upside, there is a resistance level at 39.41. A further resistance level may holdings at 39.97. The Relative Strength Index (RSI) on the 14-day chart is 48.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.32%. Stochastics %K at 41.09% indicates the stock is a holding.

How much short interest is there in Montrose Environmental Group Inc.?

A steep rise in short interest was recorded in Montrose Environmental Group Inc. stocks on Aug 14, 2023, dropping by -0.13 million shares to a total of 0.61 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.75 million shares. There was a decline of -22.0%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.20% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.3.

Montrose Environmental Group Inc. [MEG] – Who Are The Largest Shareholders?

In filings from Weatherbie Capital LLC, it is revealed that the company now owns 1,784,344 shares, or roughly 5.93% of the outstanding MEG shares. In other words, the investor’s shares have fallen by -536,162 from its previous 13-F filing of 2320506.0. Additionally, BlackRock Fund Advisors increased 4.81% of its stake after which the total value it holdings stand at $70,967,909, while William Blair Investment Manageme added 2.19% of its stake to hold $61.42 million in the firm. At present, The Vanguard Group, Inc. is holding 1,411,288 shares valued at $57.11 million. Federated Global Investment Manag owned 1,240,500 shares of the company at the time of its most recent 13F filing, worth $50.2 million.


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