Stephens Investment Management Group LLC Increases Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Stephens Investment Management Group LLC boosted its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 472,627 shares of the company’s stock after buying an additional 7,782 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Montrose Environmental Group were worth $8,767,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MEG. Millennium Management LLC raised its stake in shares of Montrose Environmental Group by 969.4% during the 2nd quarter. Millennium Management LLC now owns 86,287 shares of the company’s stock worth $3,845,000 after buying an additional 78,218 shares during the period. The Manufacturers Life Insurance Company raised its position in Montrose Environmental Group by 16.3% during the second quarter. The Manufacturers Life Insurance Company now owns 12,123 shares of the company’s stock worth $540,000 after acquiring an additional 1,695 shares during the period. SG Americas Securities LLC purchased a new position in Montrose Environmental Group during the third quarter valued at $470,000. Exchange Traded Concepts LLC increased its stake in shares of Montrose Environmental Group by 345.4% during the third quarter. Exchange Traded Concepts LLC now owns 36,117 shares of the company’s stock worth $950,000 after purchasing an additional 28,008 shares in the last quarter. Finally, Procyon Advisors LLC raised its position in shares of Montrose Environmental Group by 96.5% during the 3rd quarter. Procyon Advisors LLC now owns 12,440 shares of the company’s stock worth $327,000 after purchasing an additional 6,109 shares during the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MEG shares. Needham & Company LLC restated a “buy” rating and issued a $39.00 price objective on shares of Montrose Environmental Group in a report on Tuesday, January 28th. Stifel Nicolaus decreased their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $29.00 price objective (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Bank of America downgraded shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $29.00 in a report on Wednesday, November 6th. Finally, Evercore ISI set a $43.00 target price on Montrose Environmental Group in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Montrose Environmental Group currently has an average rating of “Moderate Buy” and an average price target of $35.60.

Montrose Environmental Group Stock Performance

Shares of MEG stock opened at $21.16 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The firm has a market cap of $725.79 million, a P/E ratio of -14.20 and a beta of 1.71. The firm’s 50 day moving average price is $19.50 and its 200-day moving average price is $24.24. Montrose Environmental Group, Inc. has a one year low of $15.21 and a one year high of $49.97.

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.