Holcombe Financial Inc. Buys Shares of 32,785 Montrose Environmental Group, Inc. (NYSE:MEG)

Holcombe Financial Inc. acquired a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 32,785 shares of the company’s stock, valued at approximately $608,000. Montrose Environmental Group comprises approximately 0.5% of Holcombe Financial Inc.’s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Walleye Capital LLC boosted its stake in Montrose Environmental Group by 2.3% during the fourth quarter. Walleye Capital LLC now owns 52,101 shares of the company’s stock worth $966,000 after buying an additional 1,173 shares during the period. XTX Topco Ltd raised its position in Montrose Environmental Group by 163.9% in the fourth quarter. XTX Topco Ltd now owns 41,475 shares of the company’s stock valued at $769,000 after purchasing an additional 25,756 shares during the period. Barclays PLC lifted its stake in Montrose Environmental Group by 6.8% during the fourth quarter. Barclays PLC now owns 57,229 shares of the company’s stock worth $1,061,000 after purchasing an additional 3,654 shares in the last quarter. Granite Investment Partners LLC boosted its position in shares of Montrose Environmental Group by 61.9% during the fourth quarter. Granite Investment Partners LLC now owns 846,834 shares of the company’s stock worth $15,709,000 after buying an additional 323,868 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Montrose Environmental Group by 176.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 128,619 shares of the company’s stock valued at $2,386,000 after buying an additional 82,107 shares during the period. 87.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MEG. Needham & Company LLC dropped their target price on 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. Evercore ISI dropped 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 report on Monday, February 10th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Montrose Environmental Group presently has an average rating of “Moderate Buy” and an average target price of $31.40.

Montrose Environmental Group Stock Performance

Shares of MEG opened at $14.55 on Friday. The stock has a 50-day simple moving average of $15.99 and a 200-day simple moving average of $19.30. The stock has a market capitalization of $504.19 million, a PE ratio of -9.76 and a beta of 1.81. Montrose Environmental Group, Inc. has a 1 year low of $10.51 and a 1 year 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.