Russell Investments Group Ltd. Sells 20,058 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Russell Investments Group Ltd. lowered its position in Montrose Environmental Group, Inc. (NYSE:MEGFree Report) by 23.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,373 shares of the company’s stock after selling 20,058 shares during the quarter. Russell Investments Group Ltd. owned about 0.22% of Montrose Environmental Group worth $2,100,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC grew its position in Montrose Environmental Group by 182.2% during the fourth 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 in the last quarter. Quantbot Technologies LP purchased a new position in shares of Montrose Environmental Group during the third quarter worth about $109,000. Versor Investments LP bought a new position in shares of Montrose Environmental Group in the third quarter worth approximately $214,000. Jump Financial LLC purchased a new stake in Montrose Environmental Group in the third quarter valued at approximately $280,000. Finally, Graham Capital Management L.P. lifted its position in Montrose Environmental Group by 118.8% during the third quarter. Graham Capital Management L.P. now owns 10,863 shares of the company’s stock valued at $318,000 after purchasing an additional 5,898 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

Insider Activity at Montrose Environmental Group

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 12,500 shares of Montrose Environmental Group stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $46.51, for a total value of $581,375.00. Following the transaction, the chief executive officer now directly owns 316,637 shares of the company’s stock, valued at approximately $14,726,786.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.90% of the stock is currently owned by company insiders.

Montrose Environmental Group Trading Up 5.9 %

Shares of MEG opened at $46.65 on Wednesday. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $47.94. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -31.52 and a beta of 1.91. The firm has a 50 day moving average price of $41.50 and a 200-day moving average price of $34.53. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.63 and a current ratio of 1.63.

Montrose Environmental Group (NYSE:MEGGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.08. Montrose Environmental Group had a negative net margin of 4.55% and a negative return on equity of 1.78%. The business had revenue of $165.74 million during the quarter, compared to the consensus estimate of $157.31 million. As a group, equities research analysts forecast that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

MEG has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $51.00 price target (up previously from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, March 1st.

View Our Latest Stock Analysis on MEG

Montrose Environmental Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Montrose Environmental Group (NYSE:MEG)

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