Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 59.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,234 shares of the company’s stock after selling 61,247 shares during the quarter. Marshall Wace LLP owned about 0.12% of Montrose Environmental Group worth $1,837,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on MEG shares. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research note on Thursday. Evercore ISI started coverage on Montrose Environmental Group in a research report on Wednesday, August 14th. They set an “outperform” rating and a $43.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Montrose Environmental Group has an average rating of “Buy” and a consensus price target of $45.60.

Montrose Environmental Group Stock Up 4.3 %

Shares of NYSE:MEG opened at $22.55 on Friday. Montrose Environmental Group, Inc. has a fifty-two week low of $21.17 and a fifty-two week high of $49.97. The firm’s 50 day moving average price is $29.82 and its 200 day moving average price is $38.26. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $768.53 million, a price-to-earnings ratio of -15.24 and a beta of 1.87.

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). The firm had revenue of $173.33 million during the quarter, compared to analyst estimates 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 research analysts predict that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current fiscal 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.