Royce & Associates LP trimmed its holdings in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 318,863 shares of the company's stock after selling 26,206 shares during the period. Royce & Associates LP owned 0.93% of Montrose Environmental Group worth $5,915,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its stake in shares of Montrose Environmental Group by 33.7% during the 3rd quarter. Fred Alger Management LLC now owns 1,866,402 shares of the company's stock worth $49,086,000 after purchasing an additional 470,706 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Montrose Environmental Group during the 3rd quarter worth about $6,801,000. Bank of New York Mellon Corp boosted its stake in shares of Montrose Environmental Group by 50.6% during the 4th quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company's stock worth $8,944,000 after purchasing an additional 161,957 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Montrose Environmental Group by 62.5% during the 4th quarter. Fisher Asset Management LLC now owns 280,409 shares of the company's stock worth $5,202,000 after purchasing an additional 107,880 shares during the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of Montrose Environmental Group by 7.4% during the 3rd quarter. Bamco Inc. NY now owns 1,242,630 shares of the company's stock worth $32,681,000 after purchasing an additional 86,000 shares during the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.
Montrose Environmental Group Trading Down 1.9 %
NYSE MEG traded down $0.28 during mid-day trading on Friday, hitting $14.59. The company's stock had a trading volume of 1,819,579 shares, compared to its average volume of 497,641. Montrose Environmental Group, Inc. has a 52-week low of $14.28 and a 52-week high of $49.97. The stock's fifty day simple moving average is $19.46 and its two-hundred day simple moving average is $21.39. 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 firm has a market capitalization of $501.02 million, a P/E ratio of -9.79 and a beta of 1.72.
Analyst Upgrades and Downgrades
Several research firms have issued reports on MEG. Stifel Nicolaus decreased their price target 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. Needham & Company LLC reissued a "buy" rating and issued a $39.00 target price on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Finally, Evercore ISI decreased their target price on shares of Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.60.
View Our Latest Stock Analysis on MEG
Montrose Environmental Group Company Profile
(
Free Report)
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.
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