Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC reduced its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 66,282 shares of the company’s stock after selling 1,432 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Montrose Environmental Group were worth $1,230,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MEG. Net Worth Advisory Group purchased a new position in shares of Montrose Environmental Group in the 3rd quarter valued at about $213,000. Assenagon Asset Management S.A. purchased a new position in shares of Montrose Environmental Group in the 3rd quarter valued at about $1,332,000. Conestoga Capital Advisors LLC boosted its stake in shares of Montrose Environmental Group by 26.8% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 52,695 shares of the company’s stock valued at $1,386,000 after buying an additional 11,145 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Montrose Environmental Group by 285.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 94,753 shares of the company’s stock valued at $2,492,000 after buying an additional 70,175 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Montrose Environmental Group by 61.8% in the 3rd quarter. Van ECK Associates Corp now owns 102,303 shares of the company’s stock valued at $2,757,000 after buying an additional 39,079 shares during the period. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Price Performance

MEG stock opened at $18.15 on Wednesday. The business has a 50 day moving average price of $19.72 and a 200 day moving average price of $23.66. The stock has a market cap of $622.68 million, a price-to-earnings ratio of -12.18 and a beta of 1.71. Montrose Environmental Group, Inc. has a fifty-two week low of $15.21 and a fifty-two week 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.

Analyst Ratings Changes

MEG has been the subject of several recent research reports. Evercore ISI decreased their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and issued a $39.00 price objective on shares of Montrose Environmental Group in a research note on Tuesday, January 28th. Stifel Nicolaus decreased their target price on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 target price (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Finally, Bank of America cut Montrose Environmental Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $52.00 to $29.00 in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $33.60.

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.