Montrose Environmental Group (NYSE:MEG) Trading Down 4.3% – Should You Sell?

Montrose Environmental Group, Inc. (NYSE:MEG)’s share price traded down 4.3% during mid-day trading on Wednesday . The stock traded as low as $15.35 and last traded at $15.08. 81,092 shares were traded during trading, a decline of 83% from the average session volume of 485,437 shares. The stock had previously closed at $15.76.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Evercore ISI lowered their price target on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $39.00 price objective on shares of Montrose Environmental Group in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Montrose Environmental Group presently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Montrose Environmental Group Trading Down 3.2 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The business’s 50-day moving average is $19.61 and its 200 day moving average is $21.59. The firm has a market capitalization of $511.56 million, a P/E ratio of -10.00 and a beta of 1.72.

Institutional Investors Weigh In On Montrose Environmental Group

A number of hedge funds and other institutional investors have recently made changes to their positions in MEG. FMR LLC increased its stake in Montrose Environmental Group by 11.1% during the 3rd quarter. FMR LLC now owns 352,264 shares of the company’s stock worth $9,265,000 after acquiring an additional 35,314 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Montrose Environmental Group in the third quarter worth $6,801,000. Rockefeller Capital Management L.P. raised its stake in Montrose Environmental Group by 189.3% in the third quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock valued at $1,223,000 after purchasing an additional 30,437 shares in the last quarter. Barclays PLC lifted its position in Montrose Environmental Group by 375.0% during the third quarter. Barclays PLC now owns 53,575 shares of the company’s stock worth $1,410,000 after purchasing an additional 42,297 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Montrose Environmental Group by 159.2% during the third quarter. JPMorgan Chase & Co. now owns 71,206 shares of the company’s stock worth $1,873,000 after buying an additional 43,739 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

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.