Los Angeles Capital Management LLC Invests $204,000 in Montrose Environmental Group, Inc. (NYSE:MEG)

Los Angeles Capital Management LLC bought a new position in Montrose Environmental Group, Inc. (NYSE:MEG) 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.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.15). The firm had revenue of $173.33 million for the quarter, compared to the consensus estimate of $174.59 million. Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. On average, equities analysts predict that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current fiscal year.

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.

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.