Baron Funds Remains Positive on Montrose Environmental Group (MEG)’s Prospects

Baron Funds, an asset management company, released its “Baron Discovery Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund was down 22.66% in the second quarter, 3.41% below its benchmark index, the Russell 2000 Growth Index. The firm focuses more on secular growth stories instead of cyclical companies. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Montrose Environmental Group, Inc. (NYSE:MEG) in the second quarter investor letter. Headquartered in North Little Rock, Arkansas, Montrose Environmental Group, Inc. (NYSE:MEG) is an American environment service providing company. On September 12, 2022, Montrose Environmental Group, Inc. (NYSE:MEG) stock closed at $43.36 per share. One-month return of Montrose Environmental Group, Inc. (NYSE:MEG) was -6.75% and its shares lost 24.46% of their value over the last 52 weeks. Montrose Environmental Group, Inc. (NYSE:MEG) has a market capitalization of $1.287 billion.

Here is what Baron Funds specifically said about Montrose Environmental Group, Inc. (NYSE:MEG) in its Q2 2022 investor letter:

“Montrose Environmental Group, Inc.(NYSE:MEG), an environmental services company, underperformed during the quarter. Despite reiterating guidance for 2022, Montrose underperformed as the market penalized high-growth companies generally. We continue to remain positive on the company’s prospects and ability to achieve or beat its long-term growth target of over 20% per year. We remain particularly excited about Montrose’s potential to benefit from increased government regulation around PFAS chemical contamination and methane emissions.”

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Montrose Environmental Group, Inc. (NYSE:MEG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Montrose Environmental Group, Inc. (NYSE:MEG) at the end of the second quarter which was 11 in the previous quarter.

We discussed Montrose Environmental Group, Inc. (NYSE:MEG) in another article and shared Alger’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.