CenterBook Partners LP Makes New $2.59 Million Investment in Montrose Environmental Group, Inc. $MEG

CenterBook Partners LP acquired a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 94,209 shares of the company’s stock, valued at approximately $2,587,000.

Several other large investors have also recently made changes to their positions in MEG. Alliancebernstein L.P. lifted its position in shares of Montrose Environmental Group by 3,407.7% in the second quarter. Alliancebernstein L.P. now owns 1,282,769 shares of the company’s stock worth $28,080,000 after buying an additional 1,246,199 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Montrose Environmental Group by 245.0% during the 2nd quarter. Marshall Wace LLP now owns 383,661 shares of the company’s stock worth $8,398,000 after acquiring an additional 272,444 shares in the last quarter. Stephens Investment Management Group LLC boosted its position in shares of Montrose Environmental Group by 44.6% during the 2nd quarter. Stephens Investment Management Group LLC now owns 656,814 shares of the company’s stock valued at $14,378,000 after acquiring an additional 202,541 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Montrose Environmental Group by 12.9% during the 2nd quarter. Legal & General Group Plc now owns 904,154 shares of the company’s stock valued at $19,792,000 after acquiring an additional 103,460 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Montrose Environmental Group in the third quarter valued at $2,803,000. 87.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MEG shares. Wall Street Zen downgraded shares of Montrose Environmental Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Barclays upped their target price on shares of Montrose Environmental Group from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Needham & Company LLC lifted their price target on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.67.

Montrose Environmental Group Price Performance

MEG opened at $22.59 on Friday. The business has a fifty day moving average of $24.19 and a 200 day moving average of $26.20. The stock has a market cap of $798.33 million, a P/E ratio of -24.82, a PEG ratio of 1.56 and a beta of 2.02. 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, Inc. has a 52-week low of $10.51 and a 52-week high of $32.00.

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.