Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,239 shares of the company’s stock after selling 589 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.13% of Montrose Environmental Group worth $1,163,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its position in shares of Montrose Environmental Group by 453.5% in the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co increased 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. Los Angeles Capital Management LLC acquired a new stake in Montrose Environmental Group in the second quarter valued at $204,000. Bayesian Capital Management LP bought a new position in Montrose Environmental Group during the 1st quarter valued at $271,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in Montrose Environmental Group during the 2nd quarter worth $310,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MEG shares. Evercore ISI initiated 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 on the stock. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $45.60.

Montrose Environmental Group Stock Down 0.3 %

MEG stock opened at $26.45 on Friday. The firm has a market cap of $901.44 million, a price-to-earnings ratio of -17.87 and a beta of 1.87. Montrose Environmental Group, Inc. has a 1-year low of $19.59 and a 1-year high of $49.97. The firm has a fifty day moving average price of $28.59 and a two-hundred day moving average price of $37.30. 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 (NYSE:MEG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). Montrose Environmental Group had a negative net margin of 4.91% and a positive return on equity of 0.22%. The business had revenue of $173.33 million for the quarter, compared to the consensus estimate of $174.59 million. Research analysts predict that Montrose Environmental Group, Inc. will post 0.19 EPS for the current year.

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.