Montrose Environmental Group, Inc. (NYSE:MEG) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lessened its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 50.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,294 shares of the company's stock after selling 42,795 shares during the quarter. Marshall Wace LLP owned 0.12% of Montrose Environmental Group worth $785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MEG. Envestnet Asset Management Inc. boosted its stake in Montrose Environmental Group by 1.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 90,893 shares of the company's stock valued at $1,686,000 after acquiring an additional 1,108 shares during the last quarter. Wrapmanager Inc. increased its position in shares of Montrose Environmental Group by 12.8% during the 4th quarter. Wrapmanager Inc. now owns 10,105 shares of the company's stock valued at $187,000 after purchasing an additional 1,150 shares during the last quarter. Walleye Capital LLC lifted its stake in shares of Montrose Environmental Group by 2.3% in the 4th quarter. Walleye Capital LLC now owns 52,101 shares of the company's stock valued at $966,000 after acquiring an additional 1,173 shares during the last quarter. KBC Group NV boosted its stake in shares of Montrose Environmental Group by 126.5% during the fourth quarter. KBC Group NV now owns 2,888 shares of the company's stock valued at $54,000 after purchasing an additional 1,613 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Montrose Environmental Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company's stock valued at $4,926,000 after acquiring an additional 1,831 shares during the period. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Stock Down 2.0 %

Shares of NYSE:MEG traded down $0.30 during trading hours on Wednesday, hitting $14.96. The company's stock had a trading volume of 306,510 shares, compared to its average volume of 525,898. The company has a market capitalization of $518.57 million, a price-to-earnings ratio of -10.04 and a beta of 1.80. The firm's fifty day moving average price is $14.94 and its 200 day moving average price is $18.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $49.97.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, research analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Montrose Environmental Group announced that its Board of Directors has approved a stock buyback program on Wednesday, May 7th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

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

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.