Oppenheimer Asset Management Inc. Acquires 8,562 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Oppenheimer Asset Management Inc. boosted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 39.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,328 shares of the company’s stock after purchasing an additional 8,562 shares during the period. Oppenheimer Asset Management Inc. owned about 0.09% of Montrose Environmental Group worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its position in Montrose Environmental Group by 43.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after acquiring an additional 504 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Montrose Environmental Group in the 2nd quarter valued at about $204,000. Net Worth Advisory Group bought a new position in shares of Montrose Environmental Group in the 3rd quarter valued at about $213,000. Finally, Bayesian Capital Management LP bought a new position in shares of Montrose Environmental Group in the 1st quarter valued at about $271,000. Institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

NYSE MEG opened at $17.77 on Tuesday. Montrose Environmental Group, Inc. has a 52-week low of $17.63 and a 52-week high of $49.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The firm has a 50-day moving average of $25.22 and a 200-day moving average of $34.42. The stock has a market cap of $609.36 million, a PE ratio of -11.92 and a beta of 1.86.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America downgraded shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $29.00 in a research report on Wednesday, November 6th. Needham & Company LLC cut their target price on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Finally, Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research note on Thursday, October 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.20.

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.