GSA Capital Partners LLP Acquires 41,125 Shares of Montrose Environmental Group, Inc. $MEG

GSA Capital Partners LLP raised its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 160.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,732 shares of the company’s stock after purchasing an additional 41,125 shares during the period. GSA Capital Partners LLP’s holdings in Montrose Environmental Group were worth $1,832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lisanti Capital Growth LLC purchased a new stake in shares of Montrose Environmental Group in the third quarter worth $2,803,000. Peregrine Capital Management LLC boosted its stake in Montrose Environmental Group by 16.6% in the 3rd quarter. Peregrine Capital Management LLC now owns 283,899 shares of the company’s stock worth $7,796,000 after purchasing an additional 40,393 shares in the last quarter. Atria Investments Inc bought a new position in Montrose Environmental Group in the 2nd quarter worth about $266,000. Stephens Investment Management Group LLC grew its position in Montrose Environmental Group by 44.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 656,814 shares of the company’s stock valued at $14,378,000 after purchasing an additional 202,541 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. increased its stake in Montrose Environmental Group by 46.2% during the 2nd quarter. Global Alpha Capital Management Ltd. now owns 162,982 shares of the company’s stock valued at $3,568,000 after purchasing an additional 51,476 shares in the last quarter. Institutional investors own 87.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MEG. Needham & Company LLC upped their target price on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Barclays boosted their price objective on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Wall Street Zen downgraded Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $33.67.

Montrose Environmental Group Stock Performance

Shares of MEG opened at $20.50 on Tuesday. The firm has a market capitalization of $724.47 million, a P/E ratio of -22.53, a PEG ratio of 1.45 and a beta of 2.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.66 and a quick ratio of 1.66. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The business has a fifty day moving average of $24.47 and a 200 day moving average of $26.25.

Montrose Environmental Group Profile

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.