Nexpoint Asset Management L.P. Purchases Shares of 34,448 Montrose Environmental Group, Inc. (NYSE:MEG)

Nexpoint Asset Management L.P. purchased a new position in Montrose Environmental Group, Inc. (NYSE:MEG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in MEG. Quarry LP acquired a new position in Montrose Environmental Group during the fourth quarter worth $36,000. KBC Group NV boosted its stake in Montrose Environmental Group by 126.5% during the 4th quarter. KBC Group NV now owns 2,888 shares of the company's stock valued at $54,000 after purchasing an additional 1,613 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of Montrose Environmental Group during the fourth quarter valued at approximately $105,000. PNC Financial Services Group Inc. grew its holdings in Montrose Environmental Group by 42.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,365 shares of the company's stock worth $118,000 after buying an additional 1,898 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Montrose Environmental Group in the 4th quarter valued at $130,000. Institutional investors and hedge funds own 87.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Evercore ISI decreased their price objective 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 reduced their target price on shares of Montrose Environmental Group from $39.00 to $28.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.40.

Montrose Environmental Group Stock Performance

Montrose Environmental Group stock traded up $0.72 during mid-day trading on Friday, reaching $15.50. The company's stock had a trading volume of 296,687 shares, compared to its average volume of 527,971. The company has a market capitalization of $537.29 million, a P/E ratio of -10.40 and a beta of 1.80. The firm's fifty day moving average price is $15.24 and its two-hundred day moving average price is $18.69. Montrose Environmental Group, Inc. has a 12-month low of $10.51 and a 12-month high of $49.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93.

About Montrose Environmental Group

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.