Royce & Associates LP Has $9.08 Million Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Royce & Associates LP grew its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 43.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,069 shares of the company's stock after acquiring an additional 104,320 shares during the period. Royce & Associates LP owned 1.01% of Montrose Environmental Group worth $9,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MEG. Vanguard Group Inc. increased its position in Montrose Environmental Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,544,607 shares of the company's stock worth $60,502,000 after buying an additional 9,913 shares during the period. Fred Alger Management LLC boosted its holdings in Montrose Environmental Group by 17.6% in the 2nd quarter. Fred Alger Management LLC now owns 1,395,696 shares of the company's stock valued at $62,192,000 after purchasing an additional 208,785 shares during the period. Federated Hermes Inc. increased its holdings in shares of Montrose Environmental Group by 11.4% during the second quarter. Federated Hermes Inc. now owns 1,270,500 shares of the company's stock worth $56,613,000 after purchasing an additional 130,000 shares during the period. Bamco Inc. NY raised its position in shares of Montrose Environmental Group by 9.8% in the first quarter. Bamco Inc. NY now owns 1,154,030 shares of the company's stock valued at $45,203,000 after buying an additional 102,536 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in shares of Montrose Environmental Group by 253.0% in the second quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company's stock valued at $51,210,000 after buying an additional 823,636 shares during the period. Institutional investors and hedge funds own 87.87% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Evercore ISI set a $43.00 price objective on Montrose Environmental Group in a report on Thursday, October 17th. Needham & Company LLC dropped their price target on Montrose Environmental Group from $54.00 to $44.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Bank of America downgraded shares of Montrose Environmental Group from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $52.00 to $29.00 in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.20.

Montrose Environmental Group Price Performance

Shares of NYSE MEG traded down $1.09 during midday trading on Monday, reaching $17.79. 1,009,524 shares of the company were exchanged, compared to its average volume of 399,009. Montrose Environmental Group, Inc. has a one year low of $17.63 and a one year high of $49.97. The stock has a market cap of $610.21 million, a P/E ratio of -12.67 and a beta of 1.86. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The stock's 50-day moving average price is $25.42 and its 200-day moving average price is $34.60.

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.