GSA Capital Partners LLP Acquires Shares of 26,199 Montrose Environmental Group, Inc. (NYSE:MEG)

GSA Capital Partners LLP bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 26,199 shares of the company’s stock, valued at approximately $689,000.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its position in Montrose Environmental Group by 43.2% in the second 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 during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Montrose Environmental Group by 11.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after purchasing an additional 504 shares during the period. Los Angeles Capital Management LLC bought a new position in Montrose Environmental Group during the second quarter valued at $204,000. Net Worth Advisory Group bought a new position in Montrose Environmental Group during the third quarter valued at $213,000. Finally, Bayesian Capital Management LP purchased a new stake in Montrose Environmental Group in the first quarter worth $271,000. 87.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MEG has been the subject of several research reports. JPMorgan Chase & Co. reiterated 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. Evercore ISI set a $43.00 target price on shares of Montrose Environmental Group in a research note on Thursday, October 17th. Needham & Company LLC dropped their price target on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Bank of America lowered shares of 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.20.

Montrose Environmental Group Price Performance

MEG stock opened at $18.88 on Monday. The firm has a 50 day moving average of $25.42 and a 200-day moving average of $34.60. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $647.60 million, a P/E ratio of -12.67 and a beta of 1.86. Montrose Environmental Group, Inc. has a 12 month low of $18.57 and a 12 month high of $49.97.

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.