JPMorgan Chase & Co. Purchases 43,739 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

JPMorgan Chase & Co. boosted its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 159.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,206 shares of the company's stock after purchasing an additional 43,739 shares during the quarter. JPMorgan Chase & Co. owned about 0.21% of Montrose Environmental Group worth $1,873,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in MEG. Benjamin F. Edwards & Company Inc. raised its stake in Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company's stock valued at $86,000 after purchasing an additional 586 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Montrose Environmental Group during the 3rd quarter valued at about $111,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Montrose Environmental Group in the 3rd quarter valued at about $212,000. Net Worth Advisory Group purchased a new position in Montrose Environmental Group in the third quarter worth about $213,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Montrose Environmental Group during the third quarter worth approximately $214,000. 87.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America lowered Montrose Environmental Group from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $52.00 to $29.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. restated 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. Needham & Company LLC reissued a "buy" rating and issued a $39.00 price objective on shares of Montrose Environmental Group in a research report on Friday, January 17th. Evercore ISI set a $43.00 target price on Montrose Environmental Group in a research report on Thursday, October 17th. Finally, Stifel Nicolaus reduced their price target on Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.60.

Montrose Environmental Group Stock Down 4.2 %

NYSE MEG traded down $0.99 during trading on Thursday, reaching $22.52. 491,660 shares of the company's stock traded hands, compared to its average volume of 579,295. Montrose Environmental Group, Inc. has a 12-month low of $15.21 and a 12-month high of $49.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The firm has a market cap of $772.30 million, a price-to-earnings ratio of -15.11 and a beta of 1.70. The company's 50 day simple moving average is $18.85 and its two-hundred day simple moving average is $25.61.

Montrose Environmental Group 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.