Global Alpha Capital Management Ltd. Invests $1.94 Million in Montrose Environmental Group, Inc. (NYSE:MEG)

Global Alpha Capital Management Ltd. bought a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 49,500 shares of the company’s stock, valued at approximately $1,939,000. Global Alpha Capital Management Ltd. owned 0.16% of Montrose Environmental Group at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its position in Montrose Environmental Group by 453.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock worth $53,000 after purchasing an additional 1,111 shares during the period. Global Retirement Partners LLC grew its position in Montrose Environmental Group by 182.2% during the 4th quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock worth $98,000 after purchasing an additional 1,971 shares during the period. Cladis Investment Advisory LLC purchased a new stake in shares of Montrose Environmental Group during the 4th quarter worth about $209,000. Mainsail Asset Management LLC purchased a new stake in shares of Montrose Environmental Group during the 1st quarter worth about $217,000. Finally, Graham Capital Management L.P. boosted its stake in shares of Montrose Environmental Group by 118.8% during the 3rd quarter. Graham Capital Management L.P. now owns 10,863 shares of the company’s stock worth $318,000 after acquiring an additional 5,898 shares in the last quarter. 87.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEG has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $54.00 target price on shares of Montrose Environmental Group in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and set a $51.00 target price (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd.

Montrose Environmental Group Price Performance

Montrose Environmental Group stock traded up $1.18 during midday trading on Tuesday, reaching $39.52. The company had a trading volume of 504,666 shares, compared to its average volume of 268,722. The company has a market capitalization of $1.35 billion, a P/E ratio of -26.70 and a beta of 1.88. Montrose Environmental Group, Inc. has a 12-month low of $21.96 and a 12-month high of $49.97. The firm’s fifty day simple moving average is $44.80 and its 200-day simple moving average is $39.30. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.63 and a quick ratio of 1.63.

Montrose Environmental Group (NYSE:MEG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $155.33 million during the quarter, compared to analysts’ expectations of $152.61 million. Montrose Environmental Group had a negative net margin of 4.55% and a negative return on equity of 1.78%. As a group, equities analysts anticipate that Montrose Environmental Group, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at Montrose Environmental Group

In other Montrose Environmental Group news, CEO Vijay Manthripragada sold 12,500 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $46.51, for a total value of $581,375.00. Following the completion of the sale, the chief executive officer now owns 316,637 shares in the company, valued at approximately $14,726,786.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.90% of the stock is owned by insiders.

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.