Tudor Investment Corp ET AL Buys New Position in Montrose Environmental Group, Inc. $MEG

Tudor Investment Corp ET AL bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 144,897 shares of the company’s stock, valued at approximately $3,979,000. Tudor Investment Corp ET AL owned about 0.41% of Montrose Environmental Group at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in Montrose Environmental Group by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,926 shares of the company’s stock worth $261,000 after acquiring an additional 488 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Montrose Environmental Group by 2.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after acquiring an additional 515 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Montrose Environmental Group by 13.0% during the second quarter. PNC Financial Services Group Inc. now owns 6,352 shares of the company’s stock valued at $139,000 after purchasing an additional 730 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Montrose Environmental Group by 4.3% during 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. Finally, ArrowMark Colorado Holdings LLC boosted its position in shares of Montrose Environmental Group by 0.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 277,430 shares of the company’s stock worth $7,618,000 after purchasing an additional 786 shares during the period. 87.87% of the stock is currently owned by institutional investors.

Insider Activity at Montrose Environmental Group

In related news, General Counsel Nasym Afsari sold 43,348 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $28.37, for a total transaction of $1,229,782.76. Following the completion of the transaction, the general counsel owned 204,878 shares in the company, valued at approximately $5,812,388.86. This represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jose Revuelta sold 7,858 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $27.00, for a total transaction of $212,166.00. Following the transaction, the insider directly owned 269,282 shares of the company’s stock, valued at $7,270,614. The trade was a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 107,527 shares of company stock worth $2,908,583 in the last three months. Insiders own 11.90% of the company’s stock.

Montrose Environmental Group Stock Up 1.2%

NYSE MEG opened at $22.76 on Thursday. The stock’s 50 day moving average is $23.82 and its 200 day moving average is $25.72. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. Montrose Environmental Group, Inc. has a 12 month low of $10.51 and a 12 month high of $32.00. The stock has a market cap of $818.90 million, a PE ratio of -94.83, a P/E/G ratio of 1.64 and a beta of 1.92.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $193.27 million during the quarter, compared to the consensus estimate of $186.24 million. Montrose Environmental Group had a positive return on equity of 4.47% and a negative net margin of 0.10%.The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.90) EPS. Research analysts predict that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Needham & Company LLC upped their target price on shares of Montrose Environmental Group from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Montrose Environmental Group has an average rating of “Hold” and a consensus price target of $34.67.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.