Radnor Capital Management LLC Invests $801,000 in Montrose Environmental Group, Inc. (NYSE:MEG)

Radnor Capital Management LLC bought a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,438 shares of the company’s stock, valued at approximately $801,000. Radnor Capital Management LLC owned 0.09% of Montrose Environmental Group at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in Montrose Environmental Group during the 2nd quarter worth $1,095,000. Ghisallo Capital Management LLC acquired a new stake in Montrose Environmental Group in the second quarter valued at about $3,119,000. Moody National Bank Trust Division purchased a new stake in Montrose Environmental Group in the 2nd quarter valued at approximately $1,159,000. Lord Abbett & CO. LLC acquired a new position in Montrose Environmental Group during the 1st quarter worth approximately $1,461,000. Finally, Driehaus Capital Management LLC raised its stake in shares of Montrose Environmental Group by 253.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock worth $51,210,000 after buying an additional 823,636 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $24.39 on Thursday. Montrose Environmental Group, Inc. has a 52 week low of $19.59 and a 52 week high of $49.97. The firm’s 50-day simple moving average is $27.03 and its 200 day simple moving average is $35.74. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.15). Montrose Environmental Group had a negative net margin of 4.91% and a positive return on equity of 0.22%. The business had revenue of $173.33 million during the quarter, compared to analyst estimates of $174.59 million. On average, equities analysts predict that Montrose Environmental Group, Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MEG. Evercore ISI set a $43.00 price target on Montrose Environmental Group in a research note on Thursday, October 17th. Bank of America cut shares of 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 note on Wednesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Montrose Environmental Group has an average rating of “Moderate Buy” and an average target price of $42.83.

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.