Belpointe Asset Management LLC Invests $57,000 in Montrose Environmental Group, Inc. (NYSE:MEG)

Belpointe Asset Management LLC bought a new stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,295 shares of the company’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MEG. Arizona State Retirement System increased its position in Montrose Environmental Group by 3.8% during the 4th quarter. Arizona State Retirement System now owns 6,700 shares of the company’s stock valued at $297,000 after purchasing an additional 248 shares during the period. Sei Investments Co. increased its position in shares of Montrose Environmental Group by 4.1% during the second quarter. Sei Investments Co. now owns 11,393 shares of the company’s stock valued at $385,000 after buying an additional 452 shares during the period. Legal & General Group Plc increased its position in shares of Montrose Environmental Group by 5.7% during the second quarter. Legal & General Group Plc now owns 9,268 shares of the company’s stock valued at $313,000 after buying an additional 501 shares during the period. Captrust Financial Advisors bought a new position in Montrose Environmental Group in the first quarter worth about $29,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Montrose Environmental Group by 38.5% in the third quarter. Tower Research Capital LLC TRC now owns 2,362 shares of the company’s stock worth $79,000 after buying an additional 657 shares during the period. Institutional investors own 90.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MEG. Morgan Stanley decreased their target price on Montrose Environmental Group from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Thursday, March 9th. Needham & Company LLC decreased their price objective on Montrose Environmental Group from $58.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, March 2nd. Finally, JPMorgan Chase & Co. cut shares of Montrose Environmental Group from an “overweight” rating to a “neutral” rating and set a $39.00 target price on the stock. in a report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Montrose Environmental Group has an average rating of “Moderate Buy” and a consensus target price of $45.33.

Montrose Environmental Group Stock Performance

Shares of MEG opened at $37.32 on Tuesday. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.12 billion, a P/E ratio of -20.06 and a beta of 1.61. The business’s 50 day moving average price is $33.09 and its 200-day moving average price is $41.93. Montrose Environmental Group, Inc. has a 52 week low of $28.36 and a 52 week high of $55.00.

Montrose Environmental Group (NYSE:MEG – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.26). Montrose Environmental Group had a negative return on equity of 11.73% and a negative net margin of 7.21%. The company had revenue of $139.51 million during the quarter, compared to the consensus estimate of $140.97 million. Equities research analysts anticipate that Montrose Environmental Group, Inc. will post -1.36 earnings per share for the current fiscal year.

Insider Activity at Montrose Environmental Group

In other news, Director Janet Risi Field bought 1,000 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was acquired at an average cost of $36.05 per share, with a total value of $36,050.00. Following the completion of the acquisition, the director now owns 14,006 shares of the company’s stock, valued at $504,916.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Montrose Environmental Group news, Director J Thomas Presby bought 5,000 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was acquired at an average price of $36.16 per share, with a total value of $180,800.00. Following the transaction, the director now owns 43,832 shares in the company, valued at $1,584,965.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Janet Risi Field purchased 1,000 shares of Montrose Environmental Group stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $36.05 per share, with a total value of $36,050.00. Following the completion of the purchase, the director now directly owns 14,006 shares of the company’s stock, valued at $504,916.30. The disclosure for this purchase can be found here. 11.90% of the stock is currently owned by insiders.

About Montrose Environmental Group

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Montrose Environmental Group, Inc operates as an environmental services company in the United States. 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.