Montrose Environmental Group, Inc. (NYSE:MEG) Shares Purchased by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lifted its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,335 shares of the company's stock after purchasing an additional 78,083 shares during the period. ArrowMark Colorado Holdings LLC owned about 1.00% of Montrose Environmental Group worth $6,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nexpoint Asset Management L.P. purchased a new stake in Montrose Environmental Group during the fourth quarter worth approximately $639,000. Comerica Bank lifted its position in shares of Montrose Environmental Group by 42.1% during the 4th quarter. Comerica Bank now owns 17,270 shares of the company's stock worth $320,000 after buying an additional 5,113 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Montrose Environmental Group by 22.1% in the 4th quarter. Northern Trust Corp now owns 583,522 shares of the company's stock valued at $10,824,000 after buying an additional 105,539 shares in the last quarter. Quarry LP purchased a new position in shares of Montrose Environmental Group in the 4th quarter valued at $36,000. Finally, Nebula Research & Development LLC raised its stake in Montrose Environmental Group by 19.2% during the 4th quarter. Nebula Research & Development LLC now owns 21,368 shares of the company's stock worth $396,000 after acquiring an additional 3,442 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock traded down $0.30 during mid-day trading on Wednesday, reaching $14.96. 306,510 shares of the company were exchanged, compared to its average volume of 525,898. The firm's 50-day simple moving average is $15.03 and its two-hundred day simple moving average is $18.52. Montrose Environmental Group, Inc. has a twelve month low of $10.51 and a twelve month high of $49.97. The firm has a market cap of $518.57 million, a PE ratio of -10.04 and a beta of 1.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.16). Montrose Environmental Group had a negative net margin of 5.28% and a positive return on equity of 1.86%. Equities analysts predict that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MEG has been the topic of several research reports. Evercore ISI dropped their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Needham & Company LLC reduced their price objective on Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.40.

About Montrose Environmental Group

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.