Calamos Advisors LLC Makes New Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Calamos Advisors LLC purchased a new position in Montrose Environmental Group, Inc. (NYSE:MEG) during the second quarter, HoldingsChannel.com reports. The fund purchased 35,943 shares of the company’s stock, valued at approximately $1,602,000.

A number of other large investors have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. bought a new stake in Montrose Environmental Group in the 2nd quarter worth $310,000. Harbor Capital Advisors Inc. bought a new stake in shares of Montrose Environmental Group during the 2nd quarter valued at about $1,095,000. Moody National Bank Trust Division bought a new stake in shares of Montrose Environmental Group during the 2nd quarter valued at about $1,159,000. Janus Henderson Group PLC boosted its stake in shares of Montrose Environmental Group by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 487,166 shares of the company’s stock valued at $19,082,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Montrose Environmental Group during the 1st quarter valued at about $271,000. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Up 1.3 %

NYSE:MEG opened at $32.32 on Monday. Montrose Environmental Group, Inc. has a one year low of $21.96 and a one year high of $49.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.63 and a quick ratio of 1.63. The company’s 50-day simple moving average is $36.77 and its 200 day simple moving average is $39.74. The firm has a market capitalization of $1.10 billion, a P/E ratio of -21.84 and a beta of 1.88.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data 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 return on equity of 1.78% and a negative net margin of 4.55%. The business had revenue of $173.33 million for the quarter, compared to the consensus estimate of $174.59 million. As a group, analysts forecast that Montrose Environmental Group, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MEG has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research note on Thursday, August 8th. Evercore ISI initiated coverage on shares of Montrose Environmental Group in a research note on Wednesday, August 14th. They set an “outperform” rating and a $43.00 target price on the stock. 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 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.