Squarepoint Ops LLC Reduces Stock Holdings in Montrose Environmental Group, Inc. $MEG

Squarepoint Ops LLC lessened its stake in shares of Montrose Environmental Group, Inc. (NYSE:MEG) by 52.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,794 shares of the company’s stock after selling 34,168 shares during the period. Squarepoint Ops LLC owned approximately 0.09% of Montrose Environmental Group worth $674,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Canada Pension Plan Investment Board increased its position in Montrose Environmental Group by 533.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,900 shares of the company’s stock valued at $42,000 after acquiring an additional 1,600 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Montrose Environmental Group by 95.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,085 shares of the company’s stock worth $68,000 after purchasing an additional 1,508 shares during the period. AlphaQuest LLC boosted its stake in shares of Montrose Environmental Group by 569.3% during the 1st quarter. AlphaQuest LLC now owns 4,096 shares of the company’s stock worth $58,000 after purchasing an additional 3,484 shares during the period. CWM LLC grew its holdings in Montrose Environmental Group by 1,015.3% during the 2nd quarter. CWM LLC now owns 4,506 shares of the company’s stock valued at $99,000 after purchasing an additional 4,102 shares during the last quarter. Finally, Creekmur Asset Management LLC purchased a new stake in Montrose Environmental Group in the 2nd quarter worth about $113,000. 87.87% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Vijay Manthripragada sold 44,984 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $24.07, for a total value of $1,082,764.88. Following the completion of the transaction, the chief executive officer directly owned 316,637 shares of the company’s stock, valued at approximately $7,621,452.59. The trade was a 12.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 11.20% of the company’s stock.

Montrose Environmental Group Trading Up 0.4%

NYSE MEG opened at $26.17 on Wednesday. Montrose Environmental Group, Inc. has a one year low of $10.51 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $924.99 million, a price-to-earnings ratio of -28.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.99. The company’s 50-day simple moving average is $26.04 and its two-hundred day simple moving average is $25.85.

Montrose Environmental Group (NYSE:MEG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $224.89 million during the quarter, compared to analysts’ expectations of $201.46 million. Montrose Environmental Group had a negative net margin of 2.52% and a positive return on equity of 0.17%. Equities analysts forecast that Montrose Environmental Group, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MEG has been the subject of several recent analyst reports. Wall Street Zen lowered Montrose Environmental Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Needham & Company LLC raised their price target on Montrose Environmental Group from $31.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on Montrose Environmental Group from $26.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Barclays increased their target price on Montrose Environmental Group from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Montrose Environmental Group in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Montrose Environmental Group currently has an average rating of “Hold” and a consensus target price of $33.50.

About Montrose Environmental Group

Montrose Environmental Group (NYSE: MEG) is a global provider of environmental technical and monitoring services, delivering solutions for site assessment, remediation, compliance and long-term environmental stewardship. The company serves a broad range of industries, including energy, manufacturing, chemicals, mining and government agencies, supporting clients with risk management strategies, regulatory permitting and environmental permitting.

Montrose’s core offerings encompass environmental consulting, engineering design, field sampling and laboratory analysis, plus innovative digital monitoring platforms.