BNP Paribas Financial Markets Makes New $305,000 Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

BNP Paribas Financial Markets bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,436 shares of the company's stock, valued at approximately $305,000.

Other large investors also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. increased its stake in shares of Montrose Environmental Group by 14.1% in the fourth quarter. Alyeska Investment Group L.P. now owns 627,204 shares of the company's stock worth $11,635,000 after acquiring an additional 77,700 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its holdings in Montrose Environmental Group by 29.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 341,335 shares of the company's stock valued at $6,332,000 after acquiring an additional 78,083 shares during the period. Nexpoint Asset Management L.P. bought a new stake in Montrose Environmental Group during the fourth quarter valued at about $639,000. Comerica Bank lifted its stake in shares of Montrose Environmental Group by 42.1% in the fourth quarter. Comerica Bank now owns 17,270 shares of the company's stock valued at $320,000 after buying an additional 5,113 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Montrose Environmental Group by 22.1% in the fourth quarter. Northern Trust Corp now owns 583,522 shares of the company's stock valued at $10,824,000 after buying an additional 105,539 shares during the period. 87.87% of the stock is owned by institutional investors and hedge funds.

Montrose Environmental Group Price Performance

Shares of Montrose Environmental Group stock traded down $0.20 during midday trading on Friday, reaching $19.56. The company had a trading volume of 283,583 shares, compared to its average volume of 538,575. 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 company has a market capitalization of $678.03 million, a price-to-earnings ratio of -13.13 and a beta of 1.80. The stock has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $17.72. Montrose Environmental Group, Inc. has a 1-year low of $10.51 and a 1-year high of $49.66.

Montrose Environmental Group announced that its board has approved a share repurchase program on Wednesday, May 7th that allows the company to buyback $40.00 million in shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MEG has been the subject of a number of analyst reports. Evercore ISI cut their price target 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. Needham & Company LLC lifted their target price on shares of Montrose Environmental Group from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $31.80.

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.