Dynamic Technology Lab Private Ltd Invests $690,000 in Montrose Environmental Group, Inc. $MEG

Key Points

• Dynamic Technology Lab Private Ltd acquired 48,389 shares of Montrose Environmental Group, valued at approximately $690,000, representing about 0.14% of the company.
• Several institutional investors have increased their stakes in Montrose Environmental Group, with notable increases including B. Metzler seel. Sohn & Co. AG at 19.1% and AlphaQuest LLC at 569.3% in the first quarter.
• Montrose Environmental Group has received a "Moderate Buy" consensus rating from analysts, with an average price target of $32.00 following recent upgrades.

Dynamic Technology Lab Private Ltd purchased a new stake in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 48,389 shares of the company's stock, valued at approximately $690,000. Dynamic Technology Lab Private Ltd owned 0.14% of Montrose Environmental Group at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers grew its position in Montrose Environmental Group by 4.3% in the 1st quarter. Rhumbline Advisers now owns 45,101 shares of the company's stock valued at $643,000 after purchasing an additional 1,875 shares during the period. Janney Montgomery Scott LLC grew its position in Montrose Environmental Group by 156.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 44,608 shares of the company's stock valued at $636,000 after purchasing an additional 27,237 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Montrose Environmental Group in the 1st quarter valued at $627,000. Oppenheimer Asset Management Inc. grew its position in Montrose Environmental Group by 23.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,023 shares of the company's stock valued at $271,000 after purchasing an additional 3,598 shares during the period. Finally, Natixis Advisors LLC acquired a new stake in Montrose Environmental Group in the 1st quarter valued at $254,000. Institutional investors and hedge funds own 87.87% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on MEG shares. Wall Street Zen raised shares of Montrose Environmental Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $31.00 price objective (up from $30.00) on shares of Montrose Environmental Group in a report on Friday, August 8th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.00.

Montrose Environmental Group Stock Up 3.6%

MEG traded up $1.07 during mid-day trading on Monday, reaching $30.88. 119,794 shares of the stock were exchanged, compared to its average volume of 474,888. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $1.09 billion, a PE ratio of -20.48, a price-to-earnings-growth ratio of 2.97 and a beta of 1.84. The company has a 50 day moving average price of $25.86 and a two-hundred day moving average price of $20.54. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $32.00.

Montrose Environmental Group 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.