Paradigm Capital Management Inc. NY Makes New $1.86 Million Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Paradigm Capital Management Inc. NY acquired a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $1,855,000. Paradigm Capital Management Inc. NY owned approximately 0.29% of Montrose Environmental Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of MEG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Montrose Environmental Group by 3.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,281,177 shares of the company's stock worth $42,316,000 after acquiring an additional 67,280 shares during the last quarter. Toronto Dominion Bank bought a new stake in Montrose Environmental Group during the 4th quarter worth about $2,505,000. Point72 Asset Management L.P. lifted its position in Montrose Environmental Group by 13.4% during the 4th quarter. Point72 Asset Management L.P. now owns 36,000 shares of the company's stock valued at $668,000 after purchasing an additional 4,243 shares during the period. Millennium Management LLC boosted its stake in shares of Montrose Environmental Group by 52.6% in the 4th quarter. Millennium Management LLC now owns 1,441,715 shares of the company's stock valued at $26,744,000 after purchasing an additional 496,661 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Montrose Environmental Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,096 shares of the company's stock valued at $336,000 after purchasing an additional 636 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors.

Montrose Environmental Group Trading Up 1.0%

Shares of NYSE:MEG traded up $0.20 during mid-day trading on Thursday, reaching $19.70. The stock had a trading volume of 285,858 shares, compared to its average volume of 534,717. The firm has a 50 day simple moving average of $15.21 and a two-hundred day simple moving average of $17.91. Montrose Environmental Group, Inc. has a twelve month low of $10.51 and a twelve month high of $49.66. The firm has a market cap of $682.95 million, a PE ratio of -13.22 and a beta of 1.80. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.60.

Montrose Environmental Group announced that its board has authorized a stock buyback program on Wednesday, May 7th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently weighed in on MEG. Needham & Company LLC boosted their price target on shares of Montrose Environmental Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Evercore ISI dropped their target price on shares of Montrose Environmental Group from $40.00 to $33.00 and set an "outperform" rating for the company in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.