Nexpoint Asset Management L.P. Invests $639,000 in Montrose Environmental Group, Inc. (NYSE:MEG)

Nexpoint Asset Management L.P. bought a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 34,448 shares of the company's stock, valued at approximately $639,000. Nexpoint Asset Management L.P. owned approximately 0.10% of Montrose Environmental Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Montrose Environmental Group by 159.2% during the third quarter. JPMorgan Chase & Co. now owns 71,206 shares of the company's stock valued at $1,873,000 after acquiring an additional 43,739 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Montrose Environmental Group during the 4th quarter valued at $322,000. Barclays PLC lifted its holdings in Montrose Environmental Group by 375.0% during the 3rd quarter. Barclays PLC now owns 53,575 shares of the company's stock worth $1,410,000 after purchasing an additional 42,297 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Montrose Environmental Group by 54.7% in the fourth quarter. New York State Common Retirement Fund now owns 64,009 shares of the company's stock valued at $1,187,000 after acquiring an additional 22,621 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Montrose Environmental Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,529 shares of the company's stock valued at $4,926,000 after acquiring an additional 1,831 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company's stock.

Montrose Environmental Group Trading Up 0.2 %

NYSE:MEG traded up $0.04 during trading hours on Tuesday, reaching $15.22. The company's stock had a trading volume of 70,252 shares, compared to its average volume of 525,262. The firm has a 50-day simple moving average of $15.19 and a 200-day simple moving average of $18.55. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year high of $49.97. The firm has a market capitalization of $527.41 million, a price-to-earnings ratio of -10.21 and a beta of 1.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

Analysts Set New Price Targets

MEG has been the subject of several 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 report on Monday, February 10th. Needham & Company LLC decreased their target price on Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.40.

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.