Lisanti Capital Growth LLC Has $3.05 Million Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Lisanti Capital Growth LLC grew its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 23.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,460 shares of the company’s stock after acquiring an additional 12,960 shares during the period. Lisanti Capital Growth LLC owned 0.20% of Montrose Environmental Group worth $3,051,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Montrose Environmental Group by 271.2% in the second quarter. Bank of New York Mellon Corp now owns 377,997 shares of the company’s stock worth $16,844,000 after purchasing an additional 276,166 shares in the last quarter. Blair William & Co. IL increased its position in Montrose Environmental Group by 30.4% in the 1st quarter. Blair William & Co. IL now owns 732,318 shares of the company’s stock valued at $28,685,000 after acquiring an additional 170,924 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of Montrose Environmental Group by 9.8% in the first quarter. Bamco Inc. NY now owns 1,154,030 shares of the company’s stock valued at $45,203,000 after purchasing an additional 102,536 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in Montrose Environmental Group by 18.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 625,562 shares of the company’s stock worth $20,099,000 after acquiring an additional 95,417 shares during the period. Finally, Essex Investment Management Co. LLC bought a new position in Montrose Environmental Group during the fourth quarter worth about $2,121,000. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Stock Up 1.1 %

Shares of NYSE MEG traded up $0.37 during midday trading on Friday, reaching $32.90. The company’s stock had a trading volume of 207,084 shares, compared to its average volume of 382,470. Montrose Environmental Group, Inc. has a fifty-two week low of $21.96 and a fifty-two week high of $49.97. The stock has a 50 day simple moving average of $35.31 and a 200-day simple moving average of $39.68. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -22.23 and a beta of 1.88. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.15). The business had revenue of $173.33 million for the quarter, compared to the consensus estimate of $174.59 million. Montrose Environmental Group had a positive return on equity of 0.22% and a negative net margin of 4.91%. Equities research analysts predict that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Montrose Environmental Group in a report on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of Montrose Environmental Group in a report on Thursday, August 8th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Montrose Environmental Group has a consensus rating of “Buy” and an average price target of $45.60.

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.