Montrose Environmental Group, Inc. (NYSE:MEG) Shares Acquired by Wrapmanager Inc.

Wrapmanager Inc. increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 47.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,851 shares of the company’s stock after purchasing an additional 3,469 shares during the period. Wrapmanager Inc.’s holdings in Montrose Environmental Group were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its position in shares of Montrose Environmental Group by 182.2% in the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock worth $98,000 after buying an additional 1,971 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Montrose Environmental Group during the third quarter worth about $109,000. Versor Investments LP bought a new position in Montrose Environmental Group in the third quarter worth about $214,000. Jump Financial LLC bought a new stake in shares of Montrose Environmental Group during the third quarter valued at about $280,000. Finally, Graham Capital Management L.P. increased its stake in Montrose Environmental Group by 118.8% during the 3rd quarter. Graham Capital Management L.P. now owns 10,863 shares of the company’s stock valued at $318,000 after buying an additional 5,898 shares during the period. Institutional investors own 87.87% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $51.00 price target (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, March 1st.

Montrose Environmental Group Price Performance

Shares of NYSE:MEG traded down $0.22 on Thursday, reaching $43.05. 405,178 shares of the company traded hands, compared to its average volume of 259,413. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $1.32 billion, a PE ratio of -27.25 and a beta of 1.91. The company’s 50 day moving average is $41.01 and its 200-day moving average is $33.89. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $47.94.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.08. The business had revenue of $165.74 million during the quarter, compared to analyst estimates of $157.31 million. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. As a group, analysts anticipate that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Montrose Environmental Group

In related news, CEO Vijay Manthripragada sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $46.51, for a total value of $581,375.00. Following the completion of the sale, the chief executive officer now owns 316,637 shares in the company, valued at approximately $14,726,786.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.90% of the stock is currently owned by insiders.

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.