Montrose Environmental Group, Inc. (NYSE:MEG) Shares Bought by Bamco Inc. NY

Bamco Inc. NY raised its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,242,630 shares of the company's stock after purchasing an additional 86,000 shares during the quarter. Bamco Inc. NY owned 3.62% of Montrose Environmental Group worth $32,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MEG. Fred Alger Management LLC increased its stake in shares of Montrose Environmental Group by 33.7% during the third quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company's stock worth $49,086,000 after acquiring an additional 470,706 shares during the period. Vanguard Group Inc. raised its stake in shares of Montrose Environmental Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,544,607 shares of the company's stock worth $60,502,000 after buying an additional 9,913 shares in the last quarter. Federated Hermes Inc. grew its holdings in Montrose Environmental Group by 11.4% during the second quarter. Federated Hermes Inc. now owns 1,270,500 shares of the company's stock worth $56,613,000 after acquiring an additional 130,000 shares during the period. Driehaus Capital Management LLC raised its position in Montrose Environmental Group by 253.0% in the second quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company's stock worth $51,210,000 after acquiring an additional 823,636 shares in the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Montrose Environmental Group by 5.1% during the 2nd quarter. Blair William & Co. IL now owns 769,653 shares of the company's stock worth $34,296,000 after purchasing an additional 37,335 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Price Performance

Shares of NYSE MEG traded down $0.28 during trading on Tuesday, reaching $17.69. The company had a trading volume of 165,454 shares, compared to its average volume of 410,744. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a twelve month low of $16.06 and a twelve month high of $49.97. The stock has a 50-day moving average price of $23.37 and a two-hundred day moving average price of $32.71. The stock has a market capitalization of $606.77 million, a PE ratio of -12.04 and a beta of 1.72.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Bank of America downgraded shares of Montrose Environmental Group from a "buy" rating to a "neutral" rating and cut their price target for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research note on Thursday, October 17th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Finally, Needham & Company LLC decreased their price objective on shares of Montrose Environmental Group from $54.00 to $44.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.20.

About Montrose Environmental Group

Montrose Environmental Group, Inc operates as an environmental services company in the United States, Canada, and internationally. The company operates in three segments: Assessment, Permitting and Response; Measurement and Analysis; and Remediation and Reuse. The Assessment, Permitting and Response segment provides scientific advisory and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consulting and environmental audits and permits for current operations; facility upgrades; new projects; decommissioning projects; and development projects.