Montrose Environmental Group, Inc. (NYSE:MEG) Shares Purchased by Summit Creek Advisors LLC

Summit Creek Advisors LLC grew its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) by 0.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,075 shares of the company’s stock after purchasing an additional 632 shares during the period. Summit Creek Advisors LLC owned approximately 0.55% of Montrose Environmental Group worth $8,579,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Montrose Environmental Group by 13.0% in the first quarter. Arizona State Retirement System now owns 6,776 shares of the company’s stock worth $359,000 after buying an additional 782 shares during the last quarter. Level Four Advisory Services LLC boosted its holdings in shares of Montrose Environmental Group by 24.9% during the fourth quarter. Level Four Advisory Services LLC now owns 6,802 shares of the company’s stock valued at $480,000 after acquiring an additional 1,356 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in shares of Montrose Environmental Group by 4.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 58,574 shares of the company’s stock valued at $4,130,000 after acquiring an additional 2,749 shares during the period. Rice Hall James & Associates LLC boosted its holdings in shares of Montrose Environmental Group by 48.5% during the fourth quarter. Rice Hall James & Associates LLC now owns 70,662 shares of the company’s stock valued at $4,982,000 after acquiring an additional 23,089 shares during the period. Finally, Truist Financial Corp boosted its holdings in shares of Montrose Environmental Group by 2.3% during the first quarter. Truist Financial Corp now owns 1,183,539 shares of the company’s stock valued at $62,645,000 after acquiring an additional 26,601 shares during the period. Hedge funds and other institutional investors own 96.51% of the company’s stock.

Analysts Set New Price Targets

MEG has been the subject of several research analyst reports. JPMorgan Chase & Co. raised shares of Montrose Environmental Group from a “neutral” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Wednesday, May 11th. Morgan Stanley reduced their price objective on shares of Montrose Environmental Group from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Finally, TheStreet downgraded shares of Montrose Environmental Group from a “c-” rating to a “d” rating in a report on Friday, June 24th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.21.

Insiders Place Their Bets

In related news, Director James K. Price acquired 13,340 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were purchased at an average price of $37.47 per share, for a total transaction of $499,849.80. Following the acquisition, the director now owns 1,019,563 shares in the company, valued at $38,203,025.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Montrose Environmental Group news, Director James K. Price bought 13,340 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were bought at an average price of $37.47 per share, for a total transaction of $499,849.80. Following the acquisition, the director now directly owns 1,019,563 shares of the company’s stock, valued at $38,203,025.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James K. Price bought 11,807 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average price of $42.35 per share, for a total transaction of $500,026.45. Following the acquisition, the director now directly owns 1,031,370 shares in the company, valued at $43,678,519.50. The disclosure for this purchase can be found here. Corporate insiders own 11.00% of the company’s stock.

Montrose Environmental Group Price Performance

Shares of NYSE MEG opened at $41.64 on Friday. Montrose Environmental Group, Inc. has a twelve month low of $28.36 and a twelve month high of $80.42. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -30.62 and a beta of 1.53. The firm has a 50-day moving average of $36.15 and a two-hundred day moving average of $42.89.

Montrose Environmental Group (NYSE:MEG – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.36). The company had revenue of $134.68 million for the quarter, compared to analyst estimates of $133.45 million. Montrose Environmental Group had a negative return on equity of 1.47% and a negative net margin of 3.89%. As a group, analysts expect that Montrose Environmental Group, Inc. will post -0.47 earnings per share for the current fiscal year.

Montrose Environmental Group Company Profile

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Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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.