Conestoga Capital Advisors LLC Purchases 17,850 Shares of Montrose Environmental Group, Inc. $MEG

Key Points

• Conestoga Capital Advisors LLC increased its holdings in Montrose Environmental Group by 25.4%, purchasing an additional 17,850 shares, bringing its total to 88,075 shares valued at approximately $1.93 million.
• Montrose Environmental Group's stock has experienced a decline of 3.8%, with its current market price at $27.03, reflecting volatility in the past year between a low of $10.51 and a high of $32.00.
• The stock currently holds a consensus rating of "Hold" from analysts, with an average price target set at $33.17, indicating mixed opinions on its market performance.

Conestoga Capital Advisors LLC lifted its position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 25.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,075 shares of the company's stock after buying an additional 17,850 shares during the quarter. Conestoga Capital Advisors LLC owned about 0.25% of Montrose Environmental Group worth $1,928,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MEG. Royce & Associates LP boosted its position in Montrose Environmental Group by 167.5% during the first quarter. Royce & Associates LP now owns 852,849 shares of the company's stock worth $12,162,000 after purchasing an additional 533,986 shares during the period. Nuveen LLC bought a new stake in Montrose Environmental Group during the first quarter worth approximately $6,886,000. William Blair Investment Management LLC boosted its position in Montrose Environmental Group by 21.8% during the second quarter. William Blair Investment Management LLC now owns 2,317,660 shares of the company's stock worth $50,734,000 after purchasing an additional 414,272 shares during the period. Russell Investments Group Ltd. boosted its position in Montrose Environmental Group by 201.9% during the first quarter. Russell Investments Group Ltd. now owns 165,475 shares of the company's stock worth $2,360,000 after purchasing an additional 110,669 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Montrose Environmental Group by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company's stock worth $33,913,000 after purchasing an additional 97,035 shares during the period. Institutional investors own 87.87% of the company's stock.

Montrose Environmental Group Stock Down 3.8%

MEG opened at $27.03 on Monday. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year high of $32.00. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $953.92 million, a price-to-earnings ratio of -17.90, a P/E/G ratio of 3.02 and a beta of 1.78. The business has a 50 day moving average of $28.74 and a 200-day moving average of $22.70.

Analyst Upgrades and Downgrades

MEG has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Barclays initiated coverage on Montrose Environmental Group in a research report on Friday, September 19th. They set an "overweight" rating and a $35.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 target price (up previously from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on Montrose Environmental Group from $26.00 to $33.00 and gave the company a "neutral" rating in a research report on Tuesday, October 14th. Finally, Wall Street Zen raised Montrose Environmental Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Montrose Environmental Group has a consensus rating of "Hold" and an average price target of $33.17.

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.

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