Bowman Consulting Group (NASDAQ:BWMN) Trading Down 4.3% After Insider Selling

Shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) dropped 4.3% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $34.00 and last traded at $34.0250. Approximately 62,053 shares changed hands during trading, a decline of 45% from the average daily volume of 113,004 shares. The stock had previously closed at $35.57.

Specifically, CEO Gary Bowman sold 7,500 shares of Bowman Consulting Group stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $35.25, for a total transaction of $264,375.00. Following the transaction, the chief executive officer directly owned 1,375,838 shares of the company’s stock, valued at approximately $48,498,289.50. The trade was a 0.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary Bowman sold 12,500 shares of Bowman Consulting Group stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $35.25, for a total value of $440,625.00. Following the completion of the transaction, the chief executive officer directly owned 892,443 shares in the company, valued at approximately $31,458,615.75. This represents a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BWMN. Roth Capital boosted their price target on shares of Bowman Consulting Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Zacks Research downgraded shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. B. Riley upped their price target on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bowman Consulting Group in a research report on Monday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.13.

Bowman Consulting Group Trading Down 4.8%

The firm has a market cap of $588.50 million, a price-to-earnings ratio of 36.43, a P/E/G ratio of 2.15 and a beta of 1.32. The firm’s 50-day moving average is $37.90 and its 200-day moving average is $36.35. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14.

Bowman Consulting Group (NASDAQ:BWMN) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. Bowman Consulting Group had a net margin of 3.33% and a return on equity of 6.30%. The firm had revenue of $112.09 million for the quarter, compared to analyst estimates of $130.45 million.

Hedge Funds Weigh In On Bowman Consulting Group

Several hedge funds have recently modified their holdings of BWMN. Nuveen LLC purchased a new stake in shares of Bowman Consulting Group during the first quarter valued at approximately $566,000. Russell Investments Group Ltd. boosted its holdings in shares of Bowman Consulting Group by 9.4% in the 1st quarter. Russell Investments Group Ltd. now owns 128,671 shares of the company’s stock worth $2,809,000 after buying an additional 11,006 shares during the last quarter. Brooklyn Investment Group bought a new position in Bowman Consulting Group during the first quarter valued at about $45,000. Comerica Bank increased its holdings in Bowman Consulting Group by 7.0% during the first quarter. Comerica Bank now owns 11,532 shares of the company’s stock worth $252,000 after buying an additional 751 shares during the last quarter. Finally, Pembroke Management LTD increased its holdings in Bowman Consulting Group by 12.8% during the first quarter. Pembroke Management LTD now owns 520,519 shares of the company’s stock worth $11,363,000 after buying an additional 59,197 shares during the last quarter. Institutional investors own 63.20% of the company’s stock.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. (NASDAQ: BWMN) is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.

Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.