Montrose Environmental Group, Inc. (NYSE:MEG) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 969.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 86,287 shares of the company’s stock after acquiring an additional 78,218 shares during the period. Millennium Management LLC’s holdings in Montrose Environmental Group were worth $3,845,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its position in shares of Montrose Environmental Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 160,654 shares of the company’s stock worth $5,162,000 after buying an additional 4,828 shares in the last quarter. Mainsail Asset Management LLC purchased a new position in shares of Montrose Environmental Group during the 1st quarter worth approximately $217,000. Yarbrough Capital LLC raised its position in shares of Montrose Environmental Group by 111.5% during the 1st quarter. Yarbrough Capital LLC now owns 23,182 shares of the company’s stock worth $908,000 after purchasing an additional 12,222 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in Montrose Environmental Group in the 1st quarter valued at approximately $574,000. Finally, WoodTrust Financial Corp grew its holdings in Montrose Environmental Group by 18.3% during the 1st quarter. WoodTrust Financial Corp now owns 22,650 shares of the company’s stock valued at $887,000 after buying an additional 3,500 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MEG shares. Needham & Company LLC restated a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a research report on Thursday, October 3rd. Evercore ISI assumed coverage on shares of Montrose Environmental Group in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 target price for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $45.60.

Montrose Environmental Group Trading Up 9.7 %

Shares of MEG stock opened at $22.33 on Monday. The firm’s 50-day simple moving average is $28.87 and its 200-day simple moving average is $37.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.82 and a quick ratio of 1.82. Montrose Environmental Group, Inc. has a 1-year low of $19.59 and a 1-year high of $49.97. The firm has a market cap of $761.03 million, a P/E ratio of -15.09 and a beta of 1.87.

Montrose Environmental Group (NYSE:MEG) last released 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). The company had revenue of $173.33 million during the quarter, compared to analysts’ expectations of $174.59 million. Montrose Environmental Group had a negative net margin of 4.91% and a positive return on equity of 0.22%. As a group, equities analysts forecast that Montrose Environmental Group, Inc. will post 0.19 EPS for the current year.

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.