Emerald Advisers LLC Decreases Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Emerald Advisers LLC lessened its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 28.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,552 shares of the company's stock after selling 210,547 shares during the period. Emerald Advisers LLC owned 1.54% of Montrose Environmental Group worth $13,822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MEG. Sei Investments Co. lifted its holdings in Montrose Environmental Group by 1.0% during the first quarter. Sei Investments Co. now owns 49,339 shares of the company's stock worth $1,933,000 after buying an additional 485 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Montrose Environmental Group by 11.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company's stock worth $187,000 after purchasing an additional 504 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Montrose Environmental Group by 43.2% in 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Montrose Environmental Group by 10.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,104 shares of the company's stock valued at $514,000 after purchasing an additional 1,211 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Montrose Environmental Group by 16.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 9,285 shares of the company's stock worth $331,000 after purchasing an additional 1,320 shares in the last quarter. Institutional investors own 87.87% of the company's stock.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock traded down $0.66 on Friday, reaching $25.71. 446,207 shares of the stock were exchanged, compared to its average volume of 583,336. The business has a 50 day moving average price of $27.31 and a two-hundred day moving average price of $35.95. The firm has a market capitalization of $880.05 million, a price-to-earnings ratio of -17.26 and a beta of 1.86. Montrose Environmental Group, Inc. has a twelve month low of $19.59 and a twelve month high of $49.97. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.46.

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

Analysts Set New Price Targets

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

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.