Alger, an investment management firm, published its “Alger Weatherbie Specialized Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the largest portfolio sector weightings were Information Technology and Health Care. The largest sector overweight was Financials. The portfolio had no exposure to the Consumer Staples or utility sectors and negligible exposure to Communication Services. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Alger Weatherbie Specialized Growth Fund, in its Q4 2021 investor letter, mentioned Montrose Environmental Group, Inc. (NYSE: MEG) and discussed its stance on the firm. Montrose Environmental Group, Inc. is an Irvine, California-based engineering services company with a $1.2 billion market capitalization. MEG delivered a -37.64% return since the beginning of the year, while its 12-month returns are up by 18.04%. The stock closed at $43.97 per share on January 26, 2022.
Here is what Alger Weatherbie Specialized Growth Fund has to say about Montrose Environmental Group, Inc. in its Q4 2021 investor letter:
“Montrose Environmental Group, Inc. offers various environmental services to a diverse client base, primarily in the U.S. The company has expertise in a wide variety of areas, including environmental assessment and permitting, measurement and analysis, and remediation and reuse. Montrose is in the early innings of rolling out an integrated sales approach that we believe will potentially result in increased revenues and earnings. During the third quarter, Montrose saw strength across its different service lines with increased regulatory momentum and private sector emphasis on environmental stewardship, including the U.S. Environmental Protection Agency recently announcing new methane regulations and a new roadmap for the measurement and remediation of per-and polyfluoroalkyl substances (PFAS), which don’t breakdown naturally and are suspected of being a health hazard. The company’s recent acquisition of emergency planning and response consultancy CTEH has also generated strong results.”
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Our calculations show that Montrose Environmental Group, Inc. (NYSE: MEG) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. MEG was in 20 hedge fund portfolios at the end of the third quarter of 2021, compared to 9 funds in the previous quarter. Montrose Environmental Group, Inc. (NYSE: MEG) delivered a -32.09% return in the past 3 months.
In May 2021, we also shared another hedge fund’s views on MEG in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
