Montrose Environmental Group, Inc. (NYSE:MEG) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 345.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,117 shares of the company's stock after acquiring an additional 28,008 shares during the quarter. Exchange Traded Concepts LLC owned about 0.11% of Montrose Environmental Group worth $950,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. grew its holdings in Montrose Environmental Group by 453.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company's stock worth $53,000 after purchasing an additional 1,111 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Montrose Environmental Group by 11.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company's stock valued at $187,000 after buying an additional 504 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Montrose Environmental Group in the second quarter valued at about $204,000. Bayesian Capital Management LP acquired a new stake in Montrose Environmental Group in the first quarter worth about $271,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Montrose Environmental Group during the second quarter worth about $310,000. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Stock Performance

NYSE:MEG traded up $1.09 during midday trading on Friday, hitting $27.54. The company's stock had a trading volume of 764,793 shares, compared to its average volume of 378,108. Montrose Environmental Group, Inc. has a fifty-two week low of $19.59 and a fifty-two week high of $49.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market cap of $938.59 million, a P/E ratio of -18.61 and a beta of 1.87. The firm's 50 day moving average is $28.49 and its 200-day moving average is $37.22.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.15). The business had revenue of $173.33 million for the quarter, compared to analysts' expectations of $174.59 million. Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. Equities analysts anticipate that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on MEG shares. Evercore ISI set a $43.00 price objective on shares of Montrose Environmental Group in a research report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 price target on shares of Montrose Environmental Group in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $45.60.

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.