Peregrine Capital Management LLC Boosts Stock Position in Montrose Environmental Group, Inc. $MEG

Peregrine Capital Management LLC lifted its position in Montrose Environmental Group, Inc. (NYSE:MEG) by 1.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,506 shares of the company’s stock after purchasing an additional 4,072 shares during the quarter. Peregrine Capital Management LLC owned 0.70% of Montrose Environmental Group worth $5,330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MEG. AlphaQuest LLC lifted its stake in shares of Montrose Environmental Group by 569.3% in the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company’s stock valued at $58,000 after acquiring an additional 3,484 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Montrose Environmental Group in the 1st quarter valued at about $79,000. CWM LLC lifted its stake in shares of Montrose Environmental Group by 1,015.3% in the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock valued at $99,000 after acquiring an additional 4,102 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of Montrose Environmental Group in the 1st quarter valued at about $174,000. Finally, B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Montrose Environmental Group by 19.1% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 13,463 shares of the company’s stock valued at $192,000 after acquiring an additional 2,161 shares during the last quarter. Institutional investors own 87.87% of the company’s stock.

Wall Street Analysts Forecast Growth

MEG has been the subject of a number of recent research reports. Wall Street Zen raised Montrose Environmental Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Barclays started coverage on Montrose Environmental Group in a research note on Friday, September 19th. They issued an “overweight” rating and a $35.00 target price for the company. JPMorgan Chase & Co. upped their price target on Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Zacks Research lowered Montrose Environmental Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.17.

Montrose Environmental Group Trading Down 2.7%

MEG opened at $27.16 on Wednesday. The business has a 50 day simple moving average of $28.80 and a two-hundred day simple moving average of $23.48. The firm has a market capitalization of $958.44 million, a price-to-earnings ratio of -17.99, a PEG ratio of 3.12 and a beta of 1.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.78 and a quick ratio of 1.78. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00.

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.