Mirae Asset Global Investments Co. Ltd. Has $411,000 Stock Position in Montrose Environmental Group, Inc. (NYSE:MEG)

Mirae Asset Global Investments Co. Ltd. increased its stake in Montrose Environmental Group, Inc. (NYSE:MEG) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,805 shares of the company’s stock after acquiring an additional 972 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Montrose Environmental Group were worth $411,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MEG. Counterpoint Mutual Funds LLC acquired a new position in shares of Montrose Environmental Group in the third quarter worth approximately $67,000. Global Retirement Partners LLC lifted its stake in shares of Montrose Environmental Group by 182.2% in the fourth quarter. Global Retirement Partners LLC now owns 3,053 shares of the company’s stock worth $98,000 after acquiring an additional 1,971 shares during the period. Quantbot Technologies LP acquired a new position in shares of Montrose Environmental Group in the third quarter worth approximately $109,000. Versor Investments LP acquired a new position in shares of Montrose Environmental Group in the third quarter worth approximately $214,000. Finally, Jump Financial LLC acquired a new position in Montrose Environmental Group in the third quarter valued at approximately $280,000. 87.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on MEG. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price target on shares of Montrose Environmental Group in a research note on Thursday, April 4th. JPMorgan Chase & Co. boosted their price target on Montrose Environmental Group from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $51.00 price target (up from $48.00) on shares of Montrose Environmental Group in a research note on Wednesday, April 3rd.

Montrose Environmental Group Trading Up 4.6 %

NYSE MEG opened at $43.07 on Friday. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -27.26 and a beta of 2.00. Montrose Environmental Group, Inc. has a 52 week low of $21.96 and a 52 week high of $45.96. The business has a 50 day moving average price of $39.14 and a 200-day moving average price of $32.86. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.50.

Montrose Environmental Group (NYSE:MEG) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. The firm had revenue of $165.74 million during the quarter, compared to the consensus estimate of $157.31 million. Montrose Environmental Group had a negative return on equity of 5.64% and a negative net margin of 4.94%. As a group, equities analysts expect that Montrose Environmental Group, Inc. will post -0.18 earnings per share for the current fiscal year.

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.