Aristides Capital LLC Makes New Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Aristides Capital LLC purchased a new stake in Montrose Environmental Group, Inc. (NYSE:MEG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 12,200 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV boosted its stake in Montrose Environmental Group by 126.5% in the fourth quarter. KBC Group NV now owns 2,888 shares of the company’s stock valued at $54,000 after acquiring an additional 1,613 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of Montrose Environmental Group in the 4th quarter worth $105,000. Point72 DIFC Ltd purchased a new position in Montrose Environmental Group during the 3rd quarter worth $111,000. PNC Financial Services Group Inc. increased its position in Montrose Environmental Group by 42.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company’s stock valued at $118,000 after buying an additional 1,898 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Montrose Environmental Group in the fourth quarter valued at about $130,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Montrose Environmental Group Stock Performance

MEG opened at $11.86 on Monday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. Montrose Environmental Group, Inc. has a 12-month low of $11.39 and a 12-month high of $49.97. The firm has a 50 day moving average of $17.75 and a two-hundred day moving average of $20.29. The firm has a market capitalization of $410.94 million, a PE ratio of -7.96 and a beta of 1.81.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MEG. Needham & Company LLC cut their price objective on shares of Montrose Environmental Group from $39.00 to $28.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus cut their price target on shares of Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Evercore ISI lowered their price objective on shares of Montrose Environmental Group from $40.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.40.

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.