Squarepoint Ops LLC Sells 34,168 Shares of Montrose Environmental Group, Inc. $MEG

Squarepoint Ops LLC reduced its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 52.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,794 shares of the company’s stock after selling 34,168 shares during the period. Squarepoint Ops LLC’s holdings in Montrose Environmental Group were worth $674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Montrose Environmental Group during the 2nd quarter worth approximately $705,000. Caxton Associates LLP purchased a new position in Montrose Environmental Group in the second quarter worth $597,000. CANADA LIFE ASSURANCE Co increased its position in shares of Montrose Environmental Group by 2.3% during the second quarter. CANADA LIFE ASSURANCE Co now owns 22,660 shares of the company’s stock worth $497,000 after purchasing an additional 515 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock valued at $68,000 after purchasing an additional 1,508 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Montrose Environmental Group during the 2nd quarter valued at $213,000. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MEG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Zacks Research downgraded Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Needham & Company LLC increased their price objective on shares of Montrose Environmental Group from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Barclays boosted their target price on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Montrose Environmental Group currently has an average rating of “Hold” and a consensus price target of $33.50.

Insider Activity

In related news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $24.07, for a total transaction of $1,082,764.88. Following the completion of the transaction, the chief executive officer directly owned 316,637 shares in the company, valued at $7,621,452.59. The trade was a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.20% of the stock is currently owned by company insiders.

Montrose Environmental Group Trading Up 0.4%

Montrose Environmental Group stock opened at $26.17 on Wednesday. The stock has a 50-day moving average price of $26.04 and a 200 day moving average price of $25.85. The company has a market capitalization of $924.99 million, a price-to-earnings ratio of -28.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.99. Montrose Environmental Group, Inc. has a 52 week low of $10.51 and a 52 week high of $32.00. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.70.

Montrose Environmental Group (NYSE:MEG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. The company had revenue of $224.89 million during the quarter, compared to analyst estimates of $201.46 million. Sell-side analysts anticipate that Montrose Environmental Group, Inc. will post 0.13 EPS for the current year.

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.