Brasada Capital Management LP Makes New Investment in Montrose Environmental Group, Inc. (NYSE:MEG)

Brasada Capital Management LP bought a new position in shares of Montrose Environmental Group, Inc. (NYSE:MEG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 12,000 shares of the company’s stock, valued at approximately $535,000.

Several other institutional investors also recently made changes to their positions in MEG. Benjamin F. Edwards & Company Inc. boosted its position in shares of Montrose Environmental Group by 453.5% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,356 shares of the company’s stock worth $53,000 after purchasing an additional 1,111 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Montrose Environmental Group by 11.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,765 shares of the company’s stock worth $187,000 after purchasing an additional 504 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Montrose Environmental Group during the 2nd quarter worth $204,000. Cladis Investment Advisory LLC purchased a new stake in shares of Montrose Environmental Group in the 4th quarter worth about $209,000. Finally, Mainsail Asset Management LLC purchased a new stake in shares of Montrose Environmental Group in the 1st quarter worth about $217,000. 87.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MEG. Needham & Company LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Montrose Environmental Group in a research report on Thursday, August 8th. Evercore ISI began coverage on shares of Montrose Environmental Group in a research report on Wednesday, August 14th. They issued an “outperform” rating and a $43.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Montrose Environmental Group presently has a consensus rating of “Buy” and an average target price of $45.60.

Montrose Environmental Group Price Performance

NYSE:MEG opened at $27.06 on Wednesday. The firm has a market cap of $926.26 million, a price-to-earnings ratio of -18.28 and a beta of 1.88. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $33.25 and its two-hundred day moving average is $39.57. Montrose Environmental Group, Inc. has a 12-month low of $21.96 and a 12-month high of $49.97.

Montrose Environmental Group (NYSE:MEG) last released its earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). The firm had revenue of $173.33 million during the quarter, compared to analysts’ expectations of $174.59 million. Montrose Environmental Group had a negative net margin of 4.91% and a positive return on equity of 0.22%. Research analysts expect that Montrose Environmental Group, Inc. will post 0.13 EPS for the current 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.