Summit Creek Advisors LLC Has $10.72 Million Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Summit Creek Advisors LLC lifted its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 49.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 577,674 shares of the company's stock after acquiring an additional 190,992 shares during the period. Summit Creek Advisors LLC owned 1.68% of Montrose Environmental Group worth $10,716,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MEG. KBC Group NV boosted its stake in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock valued at $54,000 after purchasing an additional 1,613 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Montrose Environmental Group during the third quarter worth approximately $111,000. Avanza Fonder AB bought a new position in Montrose Environmental Group in the 4th quarter worth approximately $105,000. PNC Financial Services Group Inc. increased its position in Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock valued at $118,000 after acquiring an additional 1,898 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Montrose Environmental Group in the 4th quarter valued at approximately $130,000. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Stock Down 2.5 %

Shares of Montrose Environmental Group stock traded down $0.37 during trading on Friday, hitting $14.45. 352,794 shares of the stock traded hands, compared to its average volume of 509,944. The stock has a market cap of $500.76 million, a P/E ratio of -9.70 and a beta of 1.72. The company has a fifty day moving average price of $18.76 and a two-hundred day moving average price of $20.94. Montrose Environmental Group, Inc. has a twelve month low of $14.28 and a twelve month high of $49.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

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Wall Street Analyst Weigh In

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

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.