Emerald Advisers LLC Sells 513,181 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Emerald Advisers LLC trimmed its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 97.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,371 shares of the company's stock after selling 513,181 shares during the period. Emerald Advisers LLC's holdings in Montrose Environmental Group were worth $229,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. KBC Group NV boosted its stake in shares of Montrose Environmental Group by 126.5% in the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock valued at $54,000 after purchasing an additional 1,613 shares in the last quarter. Point72 DIFC Ltd bought a new position in Montrose Environmental Group during the 3rd quarter valued at about $111,000. Avanza Fonder AB bought a new position in Montrose Environmental Group during the 4th quarter valued at about $105,000. PNC Financial Services Group Inc. boosted its position in Montrose Environmental Group by 42.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock valued at $118,000 after buying an additional 1,898 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Montrose Environmental Group during the fourth quarter worth about $130,000. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MEG shares. Stifel Nicolaus cut their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a "buy" rating and issued a $39.00 price objective on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Finally, Evercore ISI decreased their target price on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Montrose Environmental Group currently has an average rating of "Moderate Buy" and an average target price of $33.60.

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Montrose Environmental Group Trading Down 2.5 %

NYSE:MEG traded down $0.37 during trading hours on Friday, hitting $14.45. 352,794 shares of the stock were exchanged, compared to its average volume of 509,944. The company has a market capitalization of $500.76 million, a P/E ratio of -9.70 and a beta of 1.72. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The company's 50 day moving average is $18.76 and its two-hundred day moving average is $20.94. Montrose Environmental Group, Inc. has a twelve month low of $14.28 and a twelve month high of $49.97.

Montrose Environmental Group Company Profile

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.