Montrose Environmental Group, Inc. (NYSE:MEG) Shares Bought by XTX Topco Ltd

XTX Topco Ltd grew its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 81.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,719 shares of the company’s stock after acquiring an additional 7,048 shares during the period. XTX Topco Ltd’s holdings in Montrose Environmental Group were worth $413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its position in Montrose Environmental Group by 43.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after purchasing an additional 586 shares during the period. Natixis Advisors LLC boosted its stake in shares of Montrose Environmental Group by 6.9% in the third quarter. Natixis Advisors LLC now owns 20,879 shares of the company’s stock valued at $549,000 after buying an additional 1,351 shares in the last quarter. Wrapmanager Inc. grew its holdings in Montrose Environmental Group by 18.8% during the third quarter. Wrapmanager Inc. now owns 8,955 shares of the company’s stock worth $236,000 after acquiring an additional 1,420 shares during the period. The Manufacturers Life Insurance Company raised its position in Montrose Environmental Group by 16.3% in the second quarter. The Manufacturers Life Insurance Company now owns 12,123 shares of the company’s stock worth $540,000 after acquiring an additional 1,695 shares in the last quarter. Finally, Legato Capital Management LLC lifted its holdings in Montrose Environmental Group by 4.9% in the second quarter. Legato Capital Management LLC now owns 43,761 shares of the company’s stock valued at $1,950,000 after acquiring an additional 2,050 shares during the period. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Montrose Environmental Group Trading Up 2.5 %

Montrose Environmental Group stock opened at $16.54 on Monday. Montrose Environmental Group, Inc. has a 1 year low of $15.21 and a 1 year high of $49.97. The firm’s 50 day moving average price is $21.68 and its two-hundred day moving average price is $30.53. The firm has a market cap of $567.32 million, a price-to-earnings ratio of -11.10 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

About Montrose Environmental Group

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.