Summit Creek Advisors LLC Grows Stock Holdings in Montrose Environmental Group, Inc. $MEG

Summit Creek Advisors LLC lifted its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 626,560 shares of the company’s stock after acquiring an additional 42,046 shares during the quarter. Montrose Environmental Group makes up approximately 1.9% of Summit Creek Advisors LLC’s holdings, making the stock its 28th biggest holding. Summit Creek Advisors LLC owned about 1.81% of Montrose Environmental Group worth $13,715,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. AlphaQuest LLC increased its stake in shares of Montrose Environmental Group by 569.3% during the first quarter. AlphaQuest LLC now owns 4,096 shares of the company’s stock valued at $58,000 after buying an additional 3,484 shares during the period. Brooklyn Investment Group purchased a new stake in Montrose Environmental Group during the first quarter valued at approximately $79,000. CWM LLC boosted its stake 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 acquiring an additional 4,102 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in Montrose Environmental Group in the second quarter worth $113,000. Finally, Synovus Financial Corp acquired a new position in shares of Montrose Environmental Group during the first quarter worth $174,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Trading Up 5.6%

NYSE MEG opened at $26.01 on Thursday. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market capitalization of $917.61 million, a PE ratio of -28.58, a P/E/G ratio of 2.75 and a beta of 1.84. The company has a fifty day moving average of $28.40 and a 200 day moving average of $23.97.

Analysts Set New Price Targets

Several brokerages recently weighed in on MEG. JPMorgan Chase & Co. boosted their target price on Montrose Environmental Group from $26.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective (up from $30.00) on shares of Montrose Environmental Group in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Barclays initiated coverage on shares of Montrose Environmental Group in a report on Friday, September 19th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Wall Street Zen upgraded Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Montrose Environmental Group currently has an average rating of “Hold” and a consensus price target of $34.00.

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.