Lombard Odier Asset Management USA Corp Has $2.21 Million Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Lombard Odier Asset Management USA Corp lowered its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 55.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,996 shares of the company’s stock after selling 54,000 shares during the period. Lombard Odier Asset Management USA Corp owned about 0.17% of Montrose Environmental Group worth $2,208,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Citigroup Inc. raised its holdings in shares of Montrose Environmental Group by 469.4% during the 4th quarter. Citigroup Inc. now owns 3,001 shares of the company’s stock valued at $93,000 after purchasing an additional 2,474 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of 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 valued at $95,000 after purchasing an additional 1,749 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Montrose Environmental Group during the 1st quarter valued at $159,000. The Manufacturers Life Insurance Company bought a new position in shares of Montrose Environmental Group during the 4th quarter valued at $202,000. Finally, OLD National Bancorp IN bought a new position in shares of Montrose Environmental Group during the 1st quarter valued at $228,000. Institutional investors and hedge funds own 68.42% of the company’s stock.

A number of research firms have recently weighed in on MEG. Morgan Stanley raised their price target on shares of Montrose Environmental Group from $46.00 to $49.00 and gave the company an “equal weight” rating in a report on Wednesday, June 16th. JPMorgan Chase & Co. started coverage on shares of Montrose Environmental Group in a report on Tuesday, April 27th. They issued a “neutral” rating and a $55.00 target price on the stock. Zacks Investment Research upgraded shares of Montrose Environmental Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 26th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of Montrose Environmental Group in a report on Wednesday, July 7th. Finally, Stifel Nicolaus lifted their target price on shares of Montrose Environmental Group from $51.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, April 6th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Montrose Environmental Group currently has an average rating of “Hold” and a consensus target price of $34.00.

In other Montrose Environmental Group news, General Counsel Nasym Afsari sold 517 shares of the business’s stock in a transaction dated Thursday, June 24th. The shares were sold at an average price of $55.00, for a total value of $28,435.00. Following the transaction, the general counsel now directly owns 20,187 shares in the company, valued at $1,110,285. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director J Thomas Presby sold 18,787 shares of the business’s stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $51.56, for a total transaction of $968,657.72. Following the completion of the transaction, the director now owns 66,007 shares in the company, valued at $3,403,320.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,882 shares of company stock worth $2,018,883. 16.92% of the stock is owned by company insiders.

NYSE MEG traded down $0.51 during midday trading on Thursday, hitting $49.29. The company had a trading volume of 1,282 shares, compared to its average volume of 150,171. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a fifty day moving average of $50.02. Montrose Environmental Group, Inc. has a fifty-two week low of $16.41 and a fifty-two week high of $59.62.

Montrose Environmental Group (NYSE:MEG) last issued its earnings results on Wednesday, May 12th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. Montrose Environmental Group had a negative net margin of 7.06% and a positive return on equity of 17.90%. The business had revenue of $133.82 million for the quarter, compared to analyst estimates of $93.93 million. As a group, sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.19 earnings per share for the current fiscal year.

Montrose Environmental Group Company Profile

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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