Quantbot Technologies LP Acquires Shares of 20,676 Montrose Environmental Group, Inc. (NYSE:MEG)

Quantbot Technologies LP bought a new position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,676 shares of the company's stock, valued at approximately $384,000. Quantbot Technologies LP owned approximately 0.06% of Montrose Environmental Group at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Natixis Advisors LLC increased its holdings in Montrose Environmental Group by 6.9% in the 3rd quarter. Natixis Advisors LLC now owns 20,879 shares of the company's stock worth $549,000 after buying an additional 1,351 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Montrose Environmental Group in the third quarter worth approximately $295,000. Charles Schwab Investment Management Inc. grew its stake in shares of Montrose Environmental Group by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 263,698 shares of the company's stock worth $6,935,000 after acquiring an additional 6,143 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Montrose Environmental Group by 10.9% during the third quarter. Fisher Asset Management LLC now owns 172,529 shares of the company's stock valued at $4,538,000 after purchasing an additional 17,007 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Montrose Environmental Group during the third quarter valued at approximately $502,000. Hedge funds and other institutional investors own 87.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MEG. Stifel Nicolaus cut their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a "buy" rating for the company in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a "buy" rating and set a $39.00 price objective on shares of Montrose Environmental Group in a research report on Tuesday, March 4th. Finally, Evercore ISI lowered their target price on Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.60.

Montrose Environmental Group Price Performance

Shares of MEG stock traded down $0.01 on Wednesday, hitting $13.60. 864,201 shares of the stock traded hands, compared to its average volume of 511,965. The firm has a 50 day simple moving average of $18.19 and a two-hundred day simple moving average of $20.59. Montrose Environmental Group, Inc. has a 52 week low of $13.32 and a 52 week high of $49.97. The firm has a market cap of $471.43 million, a price-to-earnings ratio of -9.13 and a beta of 1.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick 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.