Sei Investments Co. buys 20,911 shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Sei Investments Co. increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG – Free Report) by 42.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,250 shares of the company’s stock after purchasing an additional 20,911 shares during the quarter. Sei Investments Co. owned about 0.21% of Montrose Environmental Group worth $3,130,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its stake in Montrose Environmental Group by 453.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock worth $53,000 after buying an additional 1,111 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Montrose Environmental Group in the second quarter valued at $204,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Montrose Environmental Group by 11.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock valued at $187,000 after purchasing an additional 504 shares during the last quarter. Mainsail Asset Management LLC acquired a new position in Montrose Environmental Group in the first quarter worth $217,000. Finally, Cladis Investment Advisory LLC bought a new stake in Montrose Environmental Group in the fourth quarter valued at $209,000. 87.87% of the shares are held by hedge funds and other institutional investors.

Montrose Environmental Group price performance

Shares of MEG opened at $21.63 on Friday. The stock has a market cap of $737.17 million, a price-to-earnings ratio of -14.61 and a beta of 1.88. The company’s 50-day moving average price is $30.19, and its two-hundred-day moving average price is $38.47. The company has a current ratio of 1.82, a quick ratio of 1.82, and a debt-to-equity ratio of 0.46. Montrose Environmental Group, Inc. has a 12-month low of $21.17 and a 12-month high of $49.97.

Montrose Environmental Group (NYSE:MEG – Get Your Free Report ) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). Montrose Environmental Group had a negative net margin of 4.91% and a positive return on equity of 0.22%. The business had revenue of $173.33 million for the quarter, compared to analysts’ expectations of $174.59 million. As a group, equities analysts predict that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current year.

Analysts set new price targets

A number of research analysts recently issued reports on MEG shares. Needham & Company LLC reaffirmed a “buy” rating and set a $54.00 price objective on shares of Montrose Environmental Group in a research note on Thursday. Evercore ISI began coverage on Montrose Environmental Group in a research report on Wednesday, August 14th. They set an “outperform” rating and a $43.00 price target on the stock. Five analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.60.

Check out the latest stock analysis on MEG

Montrose Environmental Group Company 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, Enablement and Response; Measurement and Analysis; and remediation and reuse. The Assessment, Permitting and Response segment provides scientific advice and consulting services to support environmental assessments; environmental emergency response and recovery; toxicology consultancy and environmental audits and authorizations for current operations; modernization of facilities; new projects; decommissioning projects; and development projects.

Further reading

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