ArrowMark Colorado Holdings LLC Has $6.33 Million Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

ArrowMark Colorado Holdings LLC boosted its holdings in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) by 29.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 341,335 shares of the company's stock after acquiring an additional 78,083 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 1.00% of Montrose Environmental Group worth $6,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Quarry LP bought a new stake in shares of Montrose Environmental Group during the 4th quarter worth approximately $36,000. KBC Group NV boosted its holdings in shares of Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock worth $54,000 after buying an additional 1,613 shares during the period. Avanza Fonder AB acquired a new position in Montrose Environmental Group in the 4th quarter valued at $105,000. PNC Financial Services Group Inc. raised its stake in Montrose Environmental Group by 42.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock worth $118,000 after purchasing an additional 1,898 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Montrose Environmental Group during the 4th quarter worth approximately $130,000. 87.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MEG shares. Evercore ISI cut their price target on 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. Needham & Company LLC boosted their price target on Montrose Environmental Group from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Friday. 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.80.

Montrose Environmental Group Trading Down 1.5 %

Montrose Environmental Group stock traded down $0.26 during trading hours on Friday, hitting $17.44. The stock had a trading volume of 289,916 shares, compared to its average volume of 526,489. The stock has a market cap of $604.54 million, a price-to-earnings ratio of -11.70 and a beta of 1.80. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.60. The business's 50 day simple moving average is $14.90 and its 200-day simple moving average is $18.43. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $49.97.

Montrose Environmental Group announced that its board has authorized a share buyback plan on Wednesday, May 7th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

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.