Montrose Environmental Group (NYSE:MEG) Sees Unusually-High Trading Volume

Montrose Environmental Group, Inc. (NYSE:MEGGet Rating) saw an uptick in trading volume on Tuesday . 7,649 shares changed hands during mid-day trading, a decline of 94% from the previous session’s volume of 122,837 shares.The stock last traded at $43.98 and had previously closed at $44.14.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MEG. Capital One Financial restated an “overweight” rating on shares of Montrose Environmental Group in a research note on Thursday, August 11th. Needham & Company LLC lowered their price objective on Montrose Environmental Group from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, November 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.90.

Montrose Environmental Group Stock Up 0.8 %

The company has a 50 day moving average price of $40.07 and a two-hundred day moving average price of $39.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.38 and a quick ratio of 2.38. The stock has a market cap of $1.33 billion, a PE ratio of -33.89 and a beta of 1.70.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SNC purchased a new position in shares of Montrose Environmental Group in the third quarter worth $401,000. State Street Corp grew its holdings in shares of Montrose Environmental Group by 3.3% in the third quarter. State Street Corp now owns 521,077 shares of the company’s stock worth $17,534,000 after acquiring an additional 16,697 shares during the period. Pier Capital LLC grew its holdings in shares of Montrose Environmental Group by 0.9% in the third quarter. Pier Capital LLC now owns 164,991 shares of the company’s stock worth $5,552,000 after acquiring an additional 1,397 shares during the period. Tortoise Index Solutions LLC grew its holdings in shares of Montrose Environmental Group by 43.5% in the third quarter. Tortoise Index Solutions LLC now owns 9,506 shares of the company’s stock worth $320,000 after acquiring an additional 2,882 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Montrose Environmental Group by 1.6% in the third quarter. Vanguard Group Inc. now owns 1,338,244 shares of the company’s stock worth $45,032,000 after acquiring an additional 20,974 shares during the period.

About Montrose Environmental Group

(Get Rating)

Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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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