Trexquant Investment LP Cuts Stake in Montrose Environmental Group, Inc. (NYSE:MEG)

Trexquant Investment LP cut its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,545 shares of the company’s stock after selling 4,931 shares during the quarter. Trexquant Investment LP’s holdings in Montrose Environmental Group were worth $2,069,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MEG. William Blair Investment Management LLC lifted its position in shares of Montrose Environmental Group by 175.0% in the fourth quarter. William Blair Investment Management LLC now owns 1,469,280 shares of the company’s stock valued at $27,255,000 after acquiring an additional 934,938 shares in the last quarter. Wellington Management Group LLP acquired a new position in Montrose Environmental Group in the 4th quarter valued at $6,135,000. Summit Creek Advisors LLC lifted its holdings in Montrose Environmental Group by 49.4% in the 4th quarter. Summit Creek Advisors LLC now owns 577,674 shares of the company’s stock valued at $10,716,000 after purchasing an additional 190,992 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Montrose Environmental Group by 50.6% during the 4th quarter. Bank of New York Mellon Corp now owns 482,165 shares of the company’s stock worth $8,944,000 after purchasing an additional 161,957 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Montrose Environmental Group by 62.5% during the fourth quarter. Fisher Asset Management LLC now owns 280,409 shares of the company’s stock worth $5,202,000 after buying an additional 107,880 shares in the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MEG shares. Needham & Company LLC lowered their price target on shares of Montrose Environmental Group from $39.00 to $28.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Stifel Nicolaus lowered their target price on Montrose Environmental Group from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Evercore ISI dropped their price target 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.40.

Montrose Environmental Group Price Performance

Shares of MEG stock opened at $10.72 on Wednesday. The firm’s 50-day moving average is $17.13 and its two-hundred day moving average is $19.97. Montrose Environmental Group, Inc. has a 12 month low of $10.58 and a 12 month high of $49.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market capitalization of $371.42 million, a PE ratio of -7.19 and a beta of 1.81.

Montrose Environmental Group 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.