Peregrine Capital Management LLC Has $7.80 Million Stock Position in Montrose Environmental Group, Inc. $MEG

Peregrine Capital Management LLC boosted its holdings in Montrose Environmental Group, Inc. (NYSE:MEG) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 283,899 shares of the company’s stock after purchasing an additional 40,393 shares during the quarter. Peregrine Capital Management LLC owned about 0.80% of Montrose Environmental Group worth $7,796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MEG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Montrose Environmental Group by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,378,212 shares of the company’s stock valued at $33,913,000 after acquiring an additional 97,035 shares in the last quarter. Atria Investments Inc acquired a new stake in Montrose Environmental Group in the second quarter worth $266,000. Stephens Investment Management Group LLC increased its stake in Montrose Environmental Group by 44.6% in the second quarter. Stephens Investment Management Group LLC now owns 656,814 shares of the company’s stock valued at $14,378,000 after purchasing an additional 202,541 shares in the last quarter. Global Alpha Capital Management Ltd. increased its stake in Montrose Environmental Group by 46.2% in the second quarter. Global Alpha Capital Management Ltd. now owns 162,982 shares of the company’s stock valued at $3,568,000 after purchasing an additional 51,476 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Montrose Environmental Group during the second quarter valued at about $690,000. 87.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $24.07, for a total transaction of $1,082,764.88. Following the transaction, the chief executive officer directly owned 316,637 shares in the company, valued at approximately $7,621,452.59. The trade was a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MEG shares. Barclays raised their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Wall Street Zen raised Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a report on Wednesday, October 8th. Needham & Company LLC increased their target price on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lifted their price target 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. Three research 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.com, the company presently has a consensus rating of “Hold” and an average price target of $33.50.

Montrose Environmental Group Stock Up 2.1%

MEG stock opened at $26.29 on Friday. Montrose Environmental Group, Inc. has a twelve month low of $10.51 and a twelve month high of $32.00. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $25.57 and its 200-day moving average is $26.09. The firm has a market capitalization of $928.91 million, a PE ratio of -28.88, a P/E/G ratio of 1.82 and a beta of 1.97.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Montrose Environmental Group had a positive return on equity of 0.17% and a negative net margin of 2.52%.The business had revenue of $224.89 million during the quarter, compared to the consensus estimate of $201.46 million. Sell-side analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.