XTX Topco Ltd Buys New Shares in Montrose Environmental Group, Inc. $MEG

XTX Topco Ltd purchased a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 26,808 shares of the company’s stock, valued at approximately $587,000.

A number of other large investors also recently modified their holdings of the business. Horrell Capital Management Inc. grew its holdings in shares of Montrose Environmental Group by 2.2% in the 2nd quarter. Horrell Capital Management Inc. now owns 27,427 shares of the company’s stock valued at $600,000 after acquiring an additional 597 shares in the last quarter. AlphaQuest LLC grew its stake in Montrose Environmental Group by 17.4% in the second quarter. AlphaQuest LLC now owns 4,809 shares of the company’s stock valued at $105,000 after purchasing an additional 713 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Montrose Environmental Group by 13.0% in the second quarter. PNC Financial Services Group Inc. now owns 6,352 shares of the company’s stock valued at $139,000 after purchasing an additional 730 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Montrose Environmental Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,876 shares of the company’s stock worth $269,000 after purchasing an additional 780 shares during the last quarter. Finally, Managed Asset Portfolios LLC raised its stake in shares of Montrose Environmental Group by 7.3% during the 2nd quarter. Managed Asset Portfolios LLC now owns 21,413 shares of the company’s stock worth $469,000 after purchasing an additional 1,460 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays raised their target price on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their price objective on shares of Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Needham & Company LLC raised their target price on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.40.

Insider Transactions at Montrose Environmental Group

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 44,984 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total value of $1,082,764.88. Following the transaction, the chief executive officer directly owned 316,637 shares of the company’s stock, valued at $7,621,452.59. This represents a 12.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 11.90% of the stock is owned by company insiders.

Montrose Environmental Group Stock Up 4.3%

Shares of MEG opened at $26.03 on Thursday. The firm has a market cap of $920.01 million, a P/E ratio of -28.61, a price-to-earnings-growth ratio of 2.77 and a beta of 1.99. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $32.00. The firm’s 50-day simple moving average is $26.60 and its 200 day simple moving average is $25.20.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a positive return on equity of 0.17% and a negative net margin of 2.52%. On average, analysts forecast that Montrose Environmental Group, Inc. will post 0.13 earnings per share for the current year.

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.