8,154 Shares in Montrose Environmental Group, Inc. (NYSE:MEG) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,154 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MEG. Royce & Associates LP boosted its stake in shares of Montrose Environmental Group by 43.3% in the 3rd quarter. Royce & Associates LP now owns 345,069 shares of the company’s stock valued at $9,075,000 after purchasing an additional 104,320 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in Montrose Environmental Group in the second quarter valued at approximately $3,119,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Montrose Environmental Group during the third quarter worth $6,801,000. FMR LLC increased its holdings in shares of Montrose Environmental Group by 11.1% during the third quarter. FMR LLC now owns 352,264 shares of the company’s stock worth $9,265,000 after buying an additional 35,314 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Montrose Environmental Group by 189.3% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 46,512 shares of the company’s stock valued at $1,223,000 after acquiring an additional 30,437 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MEG. Bank of America lowered Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $52.00 to $29.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Stifel Nicolaus dropped their price objective on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Needham & Company LLC reduced their target price on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Evercore ISI set a $43.00 price target on shares of Montrose Environmental Group in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $16.72 on Thursday. The stock’s 50 day moving average is $21.48 and its 200 day moving average is $30.03. Montrose Environmental Group, Inc. has a one year low of $15.21 and a one year high of $49.97. The firm has a market cap of $573.51 million, a P/E ratio of -11.22 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93.

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.