Credit Suisse AG Purchases 3,029 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Credit Suisse AG lifted its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 24.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,392 shares of the company’s stock after purchasing an additional 3,029 shares during the quarter. Credit Suisse AG owned 0.06% of Montrose Environmental Group worth $789,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MEG. Goldman Sachs Group Inc. grew its holdings in shares of Montrose Environmental Group by 198.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 39,161 shares of the company’s stock worth $1,965,000 after purchasing an additional 26,019 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in Montrose Environmental Group by 172.6% during the 1st quarter. Nuveen Asset Management LLC now owns 97,346 shares of the company’s stock worth $4,885,000 after acquiring an additional 61,635 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Montrose Environmental Group by 857.6% during the 1st quarter. Ameriprise Financial Inc. now owns 96,830 shares of the company’s stock worth $3,534,000 after acquiring an additional 86,718 shares during the last quarter. Royal Bank of Canada grew its holdings in Montrose Environmental Group by 1,181.8% during the 1st quarter. Royal Bank of Canada now owns 1,897 shares of the company’s stock worth $95,000 after acquiring an additional 1,749 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Montrose Environmental Group by 95.0% during the 1st quarter. California State Teachers Retirement System now owns 32,379 shares of the company’s stock worth $1,625,000 after acquiring an additional 15,775 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Richard E. Perlman sold 35,325 shares of Montrose Environmental Group stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $57.33, for a total value of $2,025,182.25. Following the sale, the director now directly owns 1,383,874 shares in the company, valued at $79,337,496.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Nasym Afsari sold 32,268 shares of Montrose Environmental Group stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $55.96, for a total transaction of $1,805,717.28. Following the completion of the sale, the general counsel now owns 17,968 shares in the company, valued at $1,005,489.28. The disclosure for this sale can be found here. Insiders have sold a total of 536,624 shares of company stock worth $33,585,741 over the last 90 days. Corporate insiders own 16.92% of the company’s stock.

Shares of NYSE:MEG opened at $75.15 on Thursday. The firm has a market cap of $2.22 billion, a P/E ratio of -49.12 and a beta of 0.20. The company has a 50 day moving average price of $65.96. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.44. Montrose Environmental Group, Inc. has a fifty-two week low of $26.17 and a fifty-two week high of $80.42.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, November 9th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $132.58 million during the quarter, compared to analyst estimates of $120.31 million. Montrose Environmental Group had a negative net margin of 4.51% and a positive return on equity of 7.31%. On average, equities analysts anticipate that Montrose Environmental Group, Inc. will post 0.31 earnings per share for the current year.

A number of equities research analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of Montrose Environmental Group from $68.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, November 11th. Stifel Nicolaus increased their price objective on shares of Montrose Environmental Group from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, October 12th. The Goldman Sachs Group increased their price objective on shares of Montrose Environmental Group from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, September 28th. Finally, Zacks Investment Research raised shares of Montrose Environmental Group from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Wednesday, October 13th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Montrose Environmental Group currently has an average rating of “Buy” and a consensus price target of $46.69.

About Montrose Environmental Group

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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Institutional Ownership by Quarter for Montrose Environmental Group (NYSE:MEG)

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