Oppenheimer Asset Management Inc. Sells 3,084 Shares of Montrose Environmental Group, Inc. $MEG

Oppenheimer Asset Management Inc. lessened its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 16.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,939 shares of the company’s stock after selling 3,084 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Montrose Environmental Group were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. AlphaQuest LLC increased its holdings in shares of Montrose Environmental Group by 17.4% during the 2nd quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock worth $105,000 after purchasing an additional 713 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 buying an additional 780 shares during the period. Rhumbline Advisers lifted its stake in shares of Montrose Environmental Group by 4.3% in the first 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 lifted its stake in shares of Montrose Environmental Group by 19.1% in the first 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. Finally, Graham Capital Management L.P. lifted its stake in shares of Montrose Environmental Group by 8.4% in the first quarter. Graham Capital Management L.P. now owns 40,474 shares of the company’s stock valued at $577,000 after buying an additional 3,135 shares during the period. Institutional investors own 87.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays assumed coverage on shares of Montrose Environmental Group in a research note on Friday, September 19th. They issued an “overweight” rating and a $35.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Needham & Company LLC reiterated a “buy” rating and set a $31.00 target price (up from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. Finally, Zacks Research lowered 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.17.

Montrose Environmental Group Trading Down 0.4%

Shares of MEG stock opened at $25.89 on Monday. Montrose Environmental Group, Inc. has a 12-month low of $10.51 and a 12-month high of $32.00. The company has a market capitalization of $913.59 million, a P/E ratio of -17.15, a P/E/G ratio of 2.89 and a beta of 1.78. The firm has a 50-day moving average price of $28.66 and a 200 day moving average price of $23.81. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.60.

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.