Global Alpha Capital Management Ltd. Buys 14,559 Shares of Montrose Environmental Group, Inc. (NYSE:MEG)

Global Alpha Capital Management Ltd. increased its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 26.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,890 shares of the company’s stock after acquiring an additional 14,559 shares during the period. Global Alpha Capital Management Ltd.’s holdings in Montrose Environmental Group were worth $1,838,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MEG. Benjamin F. Edwards & Company Inc. boosted its position in Montrose Environmental Group by 43.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,942 shares of the company’s stock valued at $86,000 after buying an additional 586 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Montrose Environmental Group by 11.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after buying an additional 504 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Montrose Environmental Group in the second quarter worth about $204,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Montrose Environmental Group in the third quarter worth about $212,000. Finally, Net Worth Advisory Group purchased a new stake in Montrose Environmental Group in the third quarter worth about $213,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Montrose Environmental Group Stock Down 7.5 %

MEG stock opened at $16.46 on Wednesday. The firm has a market cap of $564.58 million, a PE ratio of -11.05 and a beta of 1.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.93 and a current ratio of 1.93. The firm’s fifty day moving average is $25.01 and its 200 day moving average is $34.22. Montrose Environmental Group, Inc. has a one year low of $16.26 and a one year high of $49.97.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of recent analyst reports. Evercore ISI set a $43.00 price target on shares of Montrose Environmental Group in a report on Thursday, October 17th. Needham & Company LLC decreased their price objective on shares of Montrose Environmental Group from $54.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $29.00 price target (down from $48.00) on shares of Montrose Environmental Group in a report on Friday, November 8th. Finally, Bank of America cut shares of Montrose Environmental Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $52.00 to $29.00 in a research note on Wednesday, November 6th. Two investment 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 price target of $39.20.

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.