Conestoga Capital Advisors LLC Increases Holdings in Montrose Environmental Group, Inc. (NYSE:MEG)

Conestoga Capital Advisors LLC raised its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 26.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,695 shares of the company’s stock after acquiring an additional 11,145 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.15% of Montrose Environmental Group worth $1,386,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Driehaus Capital Management LLC raised its position in shares of Montrose Environmental Group by 253.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock valued at $51,210,000 after buying an additional 823,636 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Montrose Environmental Group by 271.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 377,997 shares of the company’s stock valued at $16,844,000 after buying an additional 276,166 shares during the period. Victory Capital Management Inc. bought a new stake in Montrose Environmental Group in the second quarter worth $10,666,000. Fred Alger Management LLC boosted its stake in Montrose Environmental Group by 17.6% during the second quarter. Fred Alger Management LLC now owns 1,395,696 shares of the company’s stock worth $62,192,000 after buying an additional 208,785 shares during the period. Finally, Blair William & Co. IL increased its position in Montrose Environmental Group by 30.4% during the first quarter. Blair William & Co. IL now owns 732,318 shares of the company’s stock valued at $28,685,000 after acquiring an additional 170,924 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MEG. Needham & Company LLC restated a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a report on Wednesday, October 16th. Evercore ISI set a $43.00 target price on Montrose Environmental Group in a research report on Thursday, October 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Montrose Environmental Group has a consensus rating of “Buy” and an average target price of $45.60.

Montrose Environmental Group Trading Down 0.1 %

MEG traded down $0.02 on Friday, reaching $26.35. 98,851 shares of the company traded hands, compared to its average volume of 375,954. 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 company has a market cap of $901.96 million, a P/E ratio of -17.70 and a beta of 1.87. The firm has a fifty day simple moving average of $27.44 and a two-hundred day simple moving average of $36.12. Montrose Environmental Group, Inc. has a one year low of $19.59 and a one year high of $49.97.

Montrose Environmental Group (NYSE:MEG) last released 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). Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. The business had revenue of $173.33 million during the quarter, compared to analysts’ expectations of $174.59 million. As a group, equities research analysts expect that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current year.

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.