BNP PARIBAS ASSET MANAGEMENT Holding S.A. Makes New $6.80 Million Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 258,599 shares of the company's stock, valued at approximately $6,801,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.76% of Montrose Environmental Group as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of 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 acquiring an additional 586 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Montrose Environmental Group during the 2nd quarter worth approximately $204,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company's stock valued at $187,000 after buying an additional 504 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Montrose Environmental Group in the first quarter valued at $271,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Montrose Environmental Group in the second quarter valued at $310,000. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Stock Performance

Shares of NYSE MEG traded up $1.37 during mid-day trading on Monday, reaching $19.26. 881,622 shares of the company were exchanged, compared to its average volume of 412,356. The stock has a market capitalization of $660.62 million, a P/E ratio of -12.93 and a beta of 1.86. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The company's 50-day simple moving average is $24.22 and its 200-day simple moving average is $33.46. Montrose Environmental Group, Inc. has a twelve month low of $16.06 and a twelve month high of $49.97.

Analysts Set New Price Targets

A number of brokerages have commented on MEG. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research note on Thursday, October 17th. Bank of America downgraded 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 report on Wednesday, November 6th. Finally, Needham & Company LLC dropped their price objective on Montrose Environmental Group from $54.00 to $44.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $39.20.

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.