Kornitzer Capital Management Inc. KS Sells 24,243 Shares of Bowman Consulting Group Ltd. $BWMN

Kornitzer Capital Management Inc. KS lowered its stake in Bowman Consulting Group Ltd. (NASDAQ:BWMN) by 62.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,288 shares of the company’s stock after selling 24,243 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Bowman Consulting Group were worth $609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Bowman Consulting Group during the second quarter worth $31,113,000. Dimensional Fund Advisors LP grew its holdings in shares of Bowman Consulting Group by 13.1% during the first quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company’s stock valued at $10,744,000 after buying an additional 43,624 shares during the last quarter. Polar Asset Management Partners Inc. increased its position in shares of Bowman Consulting Group by 12.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 320,000 shares of the company’s stock valued at $9,101,000 after acquiring an additional 34,976 shares during the period. Summit Creek Advisors LLC acquired a new position in shares of Bowman Consulting Group in the 2nd quarter valued at $6,431,000. Finally, Wellington Management Group LLP increased its position in shares of Bowman Consulting Group by 215.2% in the 2nd quarter. Wellington Management Group LLP now owns 184,736 shares of the company’s stock valued at $5,394,000 after acquiring an additional 126,136 shares during the period. Hedge funds and other institutional investors own 63.20% of the company’s stock.

Insider Activity at Bowman Consulting Group

In other news, CEO Gary Bowman sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $42.55, for a total value of $957,375.00. Following the completion of the sale, the chief executive officer directly owned 1,272,838 shares in the company, valued at $54,159,256.90. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on BWMN. JPMorgan Chase & Co. cut Bowman Consulting Group from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $40.00 to $43.00 in a research report on Friday, August 21st. Roth Capital downgraded Bowman Consulting Group from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Wednesday, August 12th. Weiss Ratings raised Bowman Consulting Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Texas Capital cut Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded Bowman Consulting Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $43.00.

Bowman Consulting Group Price Performance

NASDAQ:BWMN opened at $42.99 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. Bowman Consulting Group Ltd. has a 52 week low of $25.07 and a 52 week high of $43.22. The stock’s 50-day moving average price is $42.70 and its 200-day moving average price is $34.62. The stock has a market capitalization of $713.29 million, a PE ratio of 107.49 and a beta of 1.47.

Bowman Consulting Group (NASDAQ:BWMN) last released its quarterly earnings results on Friday, November 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.65). The business had revenue of $148.70 million during the quarter, compared to analyst estimates of $137.54 million. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%. As a group, equities analysts expect that Bowman Consulting Group Ltd. will post 0.75 EPS for the current fiscal year.

About Bowman Consulting Group

Bowman Consulting Group Ltd. is a U.S.-based engineering and consulting firm that serves public- and private-sector clients. Founded in 1995, the company provides services for infrastructure, land development, buildings, utilities and energy projects. Its offerings include civil engineering, surveying, planning, environmental consulting, landscape architecture, construction management and geospatial services. Bowman works with clients throughout the United States, supporting projects from early planning and design through construction and ongoing operations.