SG Americas Securities LLC Buys Shares of 41,250 Montrose Environmental Group, Inc. $MEG

SG Americas Securities LLC acquired a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 41,250 shares of the company’s stock, valued at approximately $1,133,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock valued at $269,000 after purchasing an additional 780 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Montrose Environmental Group by 39.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,969 shares of the company’s stock valued at $4,663,000 after buying an additional 92,671 shares in the last quarter. Rhumbline Advisers increased its holdings in Montrose Environmental Group by 4.3% in the first quarter. Rhumbline Advisers now owns 45,101 shares of the company’s stock worth $643,000 after buying an additional 1,875 shares during the last quarter. Blair William & Co. IL raised its position in Montrose Environmental Group by 4.8% during the second quarter. Blair William & Co. IL now owns 350,131 shares of the company’s stock valued at $7,664,000 after acquiring an additional 15,910 shares in the last quarter. Finally, CWM LLC lifted its stake in Montrose Environmental Group by 1,015.3% in the second quarter. CWM LLC now owns 4,506 shares of the company’s stock valued at $99,000 after acquiring an additional 4,102 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Trading Down 7.4%

Shares of NYSE:MEG opened at $21.86 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s 50-day moving average is $25.45 and its 200-day moving average is $26.19. The company has a market cap of $772.31 million, a P/E ratio of -24.02, a P/E/G ratio of 1.54 and a beta of 1.97. Montrose Environmental Group, Inc. has a 52-week low of $10.51 and a 52-week high of $32.00.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a positive return on equity of 0.17% and a negative net margin of 2.52%. Equities research analysts predict that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MEG shares. JPMorgan Chase & Co. increased their price target on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Needham & Company LLC increased their target price on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Zacks Research downgraded Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Finally, Barclays increased their price objective on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Montrose Environmental Group presently has an average rating of “Hold” and an average target price of $33.50.

Insider Buying and Selling at Montrose Environmental Group

In other news, CEO Vijay Manthripragada sold 44,984 shares of the firm’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $24.07, for a total value of $1,082,764.88. Following the sale, the chief executive officer owned 316,637 shares in the company, valued at approximately $7,621,452.59. This trade represents a 12.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.90% of the company’s stock.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.