Dynamic Technology Lab Private Ltd Purchases Shares of 16,277 Montrose Environmental Group, Inc. (NYSE:MEG)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,277 shares of the company’s stock, valued at approximately $523,000. Dynamic Technology Lab Private Ltd owned about 0.05% of Montrose Environmental Group at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC grew its holdings in Montrose Environmental Group by 182.2% in the fourth quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock valued at $98,000 after purchasing an additional 1,971 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Montrose Environmental Group in the 3rd quarter valued at approximately $109,000. Versor Investments LP acquired a new stake in Montrose Environmental Group during the third quarter worth $214,000. Jump Financial LLC acquired a new position in shares of Montrose Environmental Group in the 3rd quarter worth approximately $280,000. Finally, Graham Capital Management L.P. lifted its stake in Montrose Environmental Group by 118.8% during the 3rd quarter. Graham Capital Management L.P. now owns 10,863 shares of the company’s stock worth $318,000 after acquiring an additional 5,898 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Trading Up 3.0 %

MEG opened at $48.55 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.63 and a quick ratio of 1.63. Montrose Environmental Group, Inc. has a 1 year low of $21.96 and a 1 year high of $49.97. The firm has a 50 day moving average price of $43.04 and a 200 day moving average price of $35.73.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. Montrose Environmental Group had a negative net margin of 4.55% and a negative return on equity of 1.78%. The firm had revenue of $165.74 million during the quarter, compared to the consensus estimate of $157.31 million. Analysts forecast that Montrose Environmental Group, Inc. will post 0.17 EPS for the current year.

Insiders Place Their Bets

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 12,500 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $46.51, for a total value of $581,375.00. Following the transaction, the chief executive officer now owns 316,637 shares of the company’s stock, valued at $14,726,786.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MEG shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $51.00 target price (up previously from $48.00) on shares of Montrose Environmental Group in a report on Wednesday, April 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, March 1st.

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.