Alyeska Investment Group L.P. Purchases 77,700 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Alyeska Investment Group L.P. grew its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 627,204 shares of the company’s stock after acquiring an additional 77,700 shares during the period. Alyeska Investment Group L.P. owned about 1.83% of Montrose Environmental Group worth $11,635,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MEG. William Blair Investment Management LLC lifted its holdings in Montrose Environmental Group by 175.0% in the 4th quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company’s stock worth $27,255,000 after buying an additional 934,938 shares during the period. Wellington Management Group LLP bought a new position in Montrose Environmental Group in the fourth quarter worth about $6,135,000. Granite Investment Partners LLC lifted its holdings in Montrose Environmental Group by 61.9% in the fourth quarter. Granite Investment Partners LLC now owns 846,834 shares of the company’s stock worth $15,709,000 after buying an additional 323,868 shares during the period. Summit Creek Advisors LLC boosted its position in Montrose Environmental Group by 49.4% during the 4th quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company’s stock valued at $10,716,000 after acquiring an additional 190,992 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Montrose Environmental Group by 50.6% during the 4th quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock worth $8,944,000 after acquiring an additional 161,957 shares during the period. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MEG has been the subject of a number of research analyst reports. Needham & Company LLC lowered their target price on Montrose Environmental Group from $39.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Evercore ISI lowered their price objective on Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.40.

Montrose Environmental Group Stock Performance

Shares of MEG opened at $15.15 on Tuesday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The stock has a market cap of $525.16 million, a P/E ratio of -10.17 and a beta of 1.80. The business’s 50 day moving average price is $15.19 and its 200-day moving average price is $18.55. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $49.97.

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.