Montrose Environmental Group, Inc. (NYSE:MEG) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd increased its position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 81.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,719 shares of the company’s stock after purchasing an additional 7,048 shares during the period. XTX Topco Ltd’s holdings in Montrose Environmental Group were worth $413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Montrose Environmental Group by 43.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock worth $86,000 after acquiring an additional 586 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Montrose Environmental Group during the third quarter worth approximately $111,000. Los Angeles Capital Management LLC acquired a new position in Montrose Environmental Group in the second quarter valued at approximately $204,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Montrose Environmental Group in the third quarter valued at approximately $212,000. Finally, Net Worth Advisory Group acquired a new stake in Montrose Environmental Group during the third quarter worth approximately $213,000. Institutional investors and hedge funds own 87.87% of the company’s stock.

Analysts Set New Price Targets

MEG has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their target price on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Evercore ISI set a $43.00 target price on Montrose Environmental Group in a research report on Thursday, October 17th. Needham & Company LLC reduced their target price on Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $29.00 price target (down previously from $48.00) on shares of Montrose Environmental Group in a research note on Friday, November 8th. Finally, Bank of America cut Montrose Environmental Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $29.00 in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Montrose Environmental Group currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Montrose Environmental Group Stock Performance

NYSE MEG opened at $16.54 on Monday. The firm has a market cap of $567.32 million, a P/E ratio of -11.10 and a beta of 1.71. Montrose Environmental Group, Inc. has a 52-week low of $15.21 and a 52-week high of $49.97. The business’s 50-day moving average price is $21.68 and its 200 day moving average price is $30.53. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60.

Montrose Environmental Group 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.