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

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

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

Montrose Environmental Group Stock Down 2.2%

NYSE:MEG traded down $0.43 during trading hours on Friday, reaching $19.29. The company had a trading volume of 335,089 shares, compared to its average volume of 536,633. Montrose Environmental Group, Inc. has a twelve month low of $10.51 and a twelve month high of $49.66. 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 firm has a market cap of $668.56 million, a price-to-earnings ratio of -12.94 and a beta of 1.80. The business's 50-day simple moving average is $15.28 and its two-hundred day simple moving average is $17.81.

Montrose Environmental Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 7th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MEG shares. Evercore ISI lowered their price objective on 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. Needham & Company LLC raised their target price on Montrose Environmental Group from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average 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.