Montrose Environmental Group, Inc. (NYSE:MEG) Shares Purchased by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. boosted its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 5.7% during the 4th quarter, Holdings Channel reports. The fund owned 73,890 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Global Alpha Capital Management Ltd.’s holdings in Montrose Environmental Group were worth $1,371,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp increased its stake in Montrose Environmental Group by 40.9% in the fourth quarter. M&T Bank Corp now owns 38,831 shares of the company’s stock valued at $721,000 after purchasing an additional 11,264 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Montrose Environmental Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company’s stock valued at $4,926,000 after purchasing an additional 1,831 shares during the last quarter. Fisher Asset Management LLC increased its stake in Montrose Environmental Group by 62.5% in the fourth quarter. Fisher Asset Management LLC now owns 280,409 shares of the company’s stock valued at $5,202,000 after purchasing an additional 107,880 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Montrose Environmental Group by 50.6% in the fourth quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock valued at $8,944,000 after purchasing an additional 161,957 shares during the last quarter. Finally, Wrapmanager Inc. increased its stake in Montrose Environmental Group by 12.8% in the fourth quarter. Wrapmanager Inc. now owns 10,105 shares of the company’s stock valued at $187,000 after purchasing an additional 1,150 shares during the last quarter. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Performance

Shares of Montrose Environmental Group stock opened at $17.23 on Friday. The firm’s fifty day simple moving average is $20.18 and its 200-day simple moving average is $22.73. The stock has a market capitalization of $590.87 million, a price-to-earnings ratio of -11.56 and a beta of 1.71. Montrose Environmental Group, Inc. has a 12 month low of $15.21 and a 12 month high of $49.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MEG shares. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Evercore ISI cut their target price on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Stifel Nicolaus cut their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $39.00 target price on shares of Montrose Environmental Group in a report on Tuesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Montrose Environmental Group has a consensus rating of “Moderate Buy” and an average target price of $33.60.

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.