Silvercrest Asset Management Group LLC Boosts Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Silvercrest Asset Management Group LLC raised its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 172,741 shares of the company’s stock after acquiring an additional 7,531 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Montrose Environmental Group were worth $6,766,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MEG. Vanguard Group Inc. grew its position in Montrose Environmental Group by 0.9% during the third quarter. Vanguard Group Inc. now owns 1,500,617 shares of the company’s stock valued at $43,908,000 after acquiring an additional 13,721 shares during the period. 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 valued at $98,000 after acquiring an additional 1,971 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Montrose Environmental Group by 8.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,805 shares of the company’s stock valued at $411,000 after acquiring an additional 972 shares during the period. Conestoga Capital Advisors LLC grew its position in Montrose Environmental Group by 25.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 41,300 shares of the company’s stock valued at $1,327,000 after acquiring an additional 8,265 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in Montrose Environmental Group by 67.6% during the fourth quarter. Mutual of America Capital Management LLC now owns 66,887 shares of the company’s stock valued at $2,149,000 after acquiring an additional 26,983 shares during the period. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Down 1.4 %

Shares of NYSE MEG traded down $0.44 on Tuesday, hitting $30.34. The company had a trading volume of 184,815 shares, compared to its average volume of 297,255. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.98. Montrose Environmental Group, Inc. has a 12-month low of $21.96 and a 12-month high of $49.97. The business has a 50 day moving average of $42.52 and a two-hundred day moving average of $39.52. The firm has a market capitalization of $1.03 billion, a P/E ratio of -20.74 and a beta of 1.88.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Montrose Environmental Group had a negative return on equity of 1.78% and a negative net margin of 4.55%. The business had revenue of $155.33 million during the quarter, compared to analyst estimates of $152.61 million. As a group, equities research analysts forecast that Montrose Environmental Group, Inc. will post 0.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $54.00 target price on shares of Montrose Environmental Group in a research report on Monday, July 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $51.00 target price (up previously from $48.00) on shares of Montrose Environmental Group in a research report on Wednesday, April 3rd.

Insider Buying and Selling

In related news, CEO Vijay Manthripragada sold 12,500 shares of the 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.90% of the company’s stock.

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.