Emerald Advisers LLC Has $229,000 Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Emerald Advisers LLC reduced its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 97.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,371 shares of the company’s stock after selling 513,181 shares during the period. Emerald Advisers LLC’s holdings in Montrose Environmental Group were worth $229,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. KBC Group NV boosted its holdings in Montrose Environmental Group by 126.5% during the fourth quarter. KBC Group NV now owns 2,888 shares of the company’s stock worth $54,000 after purchasing an additional 1,613 shares during the last quarter. Avanza Fonder AB purchased a new stake in Montrose Environmental Group during the 4th quarter worth about $105,000. Point72 DIFC Ltd purchased a new stake in shares of Montrose Environmental Group in the third quarter worth about $111,000. PNC Financial Services Group Inc. boosted its holdings in Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock valued at $118,000 after purchasing an additional 1,898 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in Montrose Environmental Group during the fourth quarter valued at $130,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Price Performance

Shares of MEG opened at $14.59 on Monday. The company has a market capitalization of $501.02 million, a P/E ratio of -9.79 and a beta of 1.72. Montrose Environmental Group, Inc. has a twelve month low of $14.28 and a twelve month high of $49.97. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $19.46 and a 200 day moving average of $21.32.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MEG shares. Evercore ISI reduced their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 price target on shares of Montrose Environmental Group in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus cut their price objective on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

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.