31,544 Shares in Montrose Environmental Group, Inc. $MEG Acquired by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 31,544 shares of the company’s stock, valued at approximately $690,000. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.09% of Montrose Environmental Group as of its most recent SEC filing.

Several other large investors have also modified their holdings of MEG. AlphaQuest LLC increased its position in shares of Montrose Environmental Group by 569.3% during the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company’s stock worth $58,000 after purchasing an additional 3,484 shares during the last quarter. CWM LLC lifted its position in Montrose Environmental Group by 1,015.3% in the second quarter. CWM LLC now owns 4,506 shares of the company’s stock valued at $99,000 after buying an additional 4,102 shares during the last quarter. Brooklyn Investment Group purchased a new position in Montrose Environmental Group during the first quarter worth about $79,000. Synovus Financial Corp acquired a new stake in shares of Montrose Environmental Group during the first quarter valued at about $174,000. Finally, B. Metzler seel. Sohn & Co. AG increased its position in shares of Montrose Environmental Group by 19.1% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 13,463 shares of the company’s stock valued at $192,000 after acquiring an additional 2,161 shares during the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MEG shares. Wall Street Zen upgraded shares of Montrose Environmental Group from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research report on Wednesday, October 8th. Zacks Research cut Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Needham & Company LLC restated a “buy” rating and set a $31.00 price target (up from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. Finally, Barclays assumed coverage on Montrose Environmental Group in a report on Friday, September 19th. They issued an “overweight” rating and a $35.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.17.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock opened at $26.53 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 52-week low of $10.51 and a 52-week high of $32.00. The firm has a market cap of $936.31 million, a PE ratio of -17.57, a price-to-earnings-growth ratio of 3.03 and a beta of 1.78. The company’s 50 day moving average is $28.78 and its two-hundred day moving average is $23.58.

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.