Los Angeles Capital Management LLC bought a new position in Montrose Environmental Group, Inc. (NYSE:MEG – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,575 shares of the company’s stock, valued at approximately $204,000.
Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its position in Montrose Environmental Group by 453.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock valued at $53,000 after purchasing an additional 1,111 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Montrose Environmental Group by 11.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after buying an additional 504 shares during the last quarter. Mainsail Asset Management LLC bought a new stake in Montrose Environmental Group during the first quarter valued at about $217,000. Cladis Investment Advisory LLC bought a new stake in Montrose Environmental Group during the fourth quarter valued at about $209,000. Finally, Bayesian Capital Management LP bought a new stake in Montrose Environmental Group during the first quarter valued at about $271,000. Institutional investors and hedge funds own 87.87% of the company’s stock.
Montrose Environmental Group Price Performance
Shares of Montrose Environmental Group stock opened at $29.16 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $998.15 million, a price-to-earnings ratio of -19.70 and a beta of 1.88. Montrose Environmental Group, Inc. has a 1-year low of $21.96 and a 1-year high of $49.97. The firm’s 50-day moving average price is $32.53 and its two-hundred day moving average price is $39.48.
Analysts Set New Price Targets
A number of research analysts have recently commented on MEG shares. Evercore ISI started coverage on shares of Montrose Environmental Group in a research report on Wednesday, August 14th. They set an “outperform” rating and a $43.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Montrose Environmental Group in a research report on Thursday, August 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $45.60.
Read Our Latest Analysis on Montrose Environmental Group
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.
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