Montrose Environmental Group (NYSE:MEG) Shares Gap Down - Should You Sell?

Montrose Environmental Group, Inc. (NYSE:MEG - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $16.89, but opened at $16.16. Montrose Environmental Group shares last traded at $17.05, with a volume of 46,051 shares changing hands.

Analysts Set New Price Targets

MEG has been the topic of a number of recent analyst reports. Evercore ISI cut their price target 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. Needham & Company LLC restated a "buy" rating and set a $39.00 price objective on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus lowered their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating on the stock in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Montrose Environmental Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.60.

Montrose Environmental Group Trading Down 1.9 %

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 business has a fifty day moving average of $19.61 and a 200-day moving average of $21.59. The stock has a market capitalization of $501.02 million, a price-to-earnings ratio of -9.79 and a beta of 1.72.

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Institutional Trading of Montrose Environmental Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MEG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Montrose Environmental Group by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,096 shares of the company's stock worth $336,000 after buying an additional 636 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Montrose Environmental Group by 1.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 90,893 shares of the company's stock worth $1,686,000 after acquiring an additional 1,108 shares during the last quarter. Wrapmanager Inc. lifted its holdings in shares of Montrose Environmental Group by 12.8% during the fourth quarter. Wrapmanager Inc. now owns 10,105 shares of the company's stock valued at $187,000 after purchasing an additional 1,150 shares during the last quarter. Walleye Capital LLC boosted its position in shares of Montrose Environmental Group by 2.3% in the 4th quarter. Walleye Capital LLC now owns 52,101 shares of the company's stock valued at $966,000 after purchasing an additional 1,173 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of Montrose Environmental Group by 6.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company's stock valued at $549,000 after purchasing an additional 1,351 shares during the period. 87.87% of the stock is currently owned by institutional investors.

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.