Stephens Investment Management Group LLC Grows Stock Holdings in Montrose Environmental Group, Inc. $MEG

Key Points

• Stephens Investment Management Group LLC increased its stake in Montrose Environmental Group by 44.6% during Q2, owning approximately 1.90% of the company with a market value of $14.38 million.
• Several large investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS and Rhumbline Advisers, have also boosted their positions in the company, which is currently 87.87% owned by institutional investors.
• Analysts have differing viewpoints, with ratings ranging from "buy" to "sell," and a consensus price target of $33.17 for the stock, following recent updates from investment firms.

Stephens Investment Management Group LLC grew its stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 44.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 656,814 shares of the company's stock after purchasing an additional 202,541 shares during the period. Stephens Investment Management Group LLC owned approximately 1.90% of Montrose Environmental Group worth $14,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Montrose Environmental Group by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company's stock valued at $269,000 after purchasing an additional 780 shares in the last quarter. Rhumbline Advisers boosted its position in Montrose Environmental Group by 4.3% in the 1st quarter. Rhumbline Advisers now owns 45,101 shares of the company's stock valued at $643,000 after buying an additional 1,875 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its position in Montrose Environmental Group by 19.1% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 13,463 shares of the company's stock valued at $192,000 after buying an additional 2,161 shares during the period. Graham Capital Management L.P. raised its holdings in shares of Montrose Environmental Group by 8.4% in the 1st quarter. Graham Capital Management L.P. now owns 40,474 shares of the company's stock valued at $577,000 after purchasing an additional 3,135 shares in the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Montrose Environmental Group by 569.3% in the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company's stock valued at $58,000 after purchasing an additional 3,484 shares in the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Trading Down 0.5%

NYSE MEG opened at $27.12 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $957.06 million, a PE ratio of -17.96, a P/E/G ratio of 3.04 and a beta of 1.78. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The firm's fifty day moving average is $28.77 and its two-hundred day moving average is $22.87.

Wall Street Analyst Weigh In

MEG has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 14th. Wall Street Zen raised shares of Montrose Environmental Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Needham & Company LLC reissued a "buy" rating and issued a $31.00 price target (up from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. Finally, Zacks Research cut shares of Montrose Environmental Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 17th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $33.17.

Montrose Environmental Group Company 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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