Tudor Investment Corp ET AL Makes New $3.98 Million Investment in Montrose Environmental Group, Inc. $MEG

Key Points

• Tudor Investment Corp opened a new stake in Montrose Environmental (MEG) of 144,897 shares valued at about $3.98 million, and several other institutions (e.g., AllianceBernstein, Marshall Wace, Algert Global) materially increased positions — institutional investors now own ~87.87% of the company.
• Montrose beat Q results (EPS $0.35 vs. $0.24 est.; revenue $193.3M vs. $186.2M) but reported a slight negative net margin (-0.10%); the stock has a market cap of ~$819M and an average analyst rating of "Hold" with a $34.67 average price target.
• Company insiders sold 107,527 shares (~$2.91M) over the last quarter (including sales by General Counsel Nasym Afsari and Jose Revuelta), while insiders still own 11.90% of outstanding shares.

Tudor Investment Corp ET AL acquired a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 144,897 shares of the company's stock, valued at approximately $3,979,000. Tudor Investment Corp ET AL owned approximately 0.41% of Montrose Environmental Group at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MEG. Alliancebernstein L.P. grew its holdings in shares of Montrose Environmental Group by 3,407.7% during the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company's stock worth $28,080,000 after purchasing an additional 1,246,199 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Montrose Environmental Group by 245.0% during the second quarter. Marshall Wace LLP now owns 383,661 shares of the company's stock worth $8,398,000 after purchasing an additional 272,444 shares during the last quarter. Algert Global LLC grew its holdings in shares of Montrose Environmental Group by 351.8% during the third quarter. Algert Global LLC now owns 179,188 shares of the company's stock worth $4,921,000 after purchasing an additional 139,528 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of Montrose Environmental Group during the third quarter worth $2,803,000. Finally, CenterBook Partners LP bought a new stake in shares of Montrose Environmental Group during the third quarter worth $2,587,000. Institutional investors own 87.87% of the company's stock.

Montrose Environmental Group Stock Up 0.4%

Shares of NYSE MEG opened at $22.65 on Friday. The firm has a market capitalization of $819.21 million, a PE ratio of -94.37, a price-to-earnings-growth ratio of 1.83 and a beta of 2.00. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.68. Montrose Environmental Group, Inc. has a 1 year low of $12.26 and a 1 year high of $32.00. The firm's 50-day moving average is $23.75 and its 200-day moving average is $25.19.

Montrose Environmental Group (NYSE:MEG - Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $193.27 million for the quarter, compared to analyst estimates of $186.24 million. Montrose Environmental Group had a negative net margin of 0.10% and a positive return on equity of 4.47%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.90) EPS. Equities analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

Insider Buying and Selling at Montrose Environmental Group

In other news, General Counsel Nasym Afsari sold 43,348 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $28.37, for a total value of $1,229,782.76. Following the transaction, the general counsel owned 204,878 shares of the company's stock, valued at approximately $5,812,388.86. This trade represents a 17.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jose Revuelta sold 7,858 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $27.00, for a total transaction of $212,166.00. Following the completion of the transaction, the insider directly owned 269,282 shares in the company, valued at $7,270,614. This trade represents a 2.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 107,527 shares of company stock worth $2,908,583 over the last quarter. Company insiders own 11.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MEG. Needham & Company LLC increased their target price on Montrose Environmental Group from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Wall Street Zen cut Montrose Environmental Group from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $34.67.

Montrose Environmental Group Profile

Montrose Environmental Group NYSE: MEG is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose's core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.

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