Stephens Investment Management Group LLC Sells 54,216 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Stephens Investment Management Group LLC cut its holdings in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 10.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,845 shares of the company's stock after selling 54,216 shares during the period. Stephens Investment Management Group LLC owned approximately 1.36% of Montrose Environmental Group worth $12,225,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MEG. Assenagon Asset Management S.A. bought a new stake in shares of Montrose Environmental Group during the 3rd quarter worth about $1,332,000. Net Worth Advisory Group bought a new stake in Montrose Environmental Group during the third quarter worth approximately $213,000. Procyon Advisors LLC grew its holdings in Montrose Environmental Group by 96.5% during the third quarter. Procyon Advisors LLC now owns 12,440 shares of the company's stock valued at $327,000 after purchasing an additional 6,109 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Montrose Environmental Group by 345.4% in the third quarter. Exchange Traded Concepts LLC now owns 36,117 shares of the company's stock valued at $950,000 after purchasing an additional 28,008 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Montrose Environmental Group in the third quarter worth $470,000. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Stock Performance

MEG stock traded down $0.66 on Friday, reaching $25.71. 446,207 shares of the company were exchanged, compared to its average volume of 583,336. The firm has a market capitalization of $880.05 million, a PE ratio of -17.26 and a beta of 1.86. Montrose Environmental Group, Inc. has a 12 month low of $19.59 and a 12 month high of $49.97. The stock's fifty day moving average price is $27.31 and its 200 day moving average price is $35.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last posted its quarterly earnings data 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). Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. The company had revenue of $173.33 million for the quarter, compared to the consensus estimate of $174.59 million. On average, research analysts anticipate that Montrose Environmental Group, Inc. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MEG shares. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research note on Thursday, October 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $54.00 price target on shares of Montrose Environmental Group in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $45.60.

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.