Privium Fund Management B.V. Makes New Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Privium Fund Management B.V. bought a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,325 shares of the company’s stock, valued at approximately $350,000.

Other hedge funds also recently made changes to their positions in the company. Driehaus Capital Management LLC raised its stake in Montrose Environmental Group by 253.0% in the second quarter. Driehaus Capital Management LLC now owns 1,149,227 shares of the company’s stock valued at $51,210,000 after purchasing an additional 823,636 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Montrose Environmental Group by 271.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 377,997 shares of the company’s stock worth $16,844,000 after acquiring an additional 276,166 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Montrose Environmental Group during the 2nd quarter worth approximately $10,666,000. Fred Alger Management LLC boosted its position in shares of Montrose Environmental Group by 17.6% during the 2nd quarter. Fred Alger Management LLC now owns 1,395,696 shares of the company’s stock worth $62,192,000 after acquiring an additional 208,785 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Montrose Environmental Group by 30.4% in the first quarter. Blair William & Co. IL now owns 732,318 shares of the company’s stock valued at $28,685,000 after acquiring an additional 170,924 shares during the last quarter. 87.87% of the stock is owned by institutional investors.

Montrose Environmental Group Trading Down 13.4 %

Shares of MEG stock opened at $20.51 on Friday. Montrose Environmental Group, Inc. has a twelve month low of $19.59 and a twelve month high of $49.97. The stock’s fifty day simple moving average is $26.45 and its 200 day simple moving average is $35.41. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $702.06 million, a P/E ratio of -13.77 and a beta of 1.86.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI set a $43.00 target price on Montrose Environmental Group in a report on Thursday, October 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 price objective (down from $48.00) on shares of Montrose Environmental Group in a research report on Friday. Needham & Company LLC decreased their target price on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $52.00 to $29.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently 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.