Novare Capital Management LLC Sells 14,707 Shares of Bowman Consulting Group Ltd. $BWMN

Novare Capital Management LLC cut its holdings in Bowman Consulting Group Ltd. (NASDAQ:BWMN) by 31.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,600 shares of the company’s stock after selling 14,707 shares during the quarter. Novare Capital Management LLC’s holdings in Bowman Consulting Group were worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in Bowman Consulting Group during the 3rd quarter valued at approximately $40,000. Ameritas Investment Partners Inc. increased its stake in shares of Bowman Consulting Group by 28.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company’s stock valued at $41,000 after buying an additional 317 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Bowman Consulting Group by 244.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock valued at $66,000 after buying an additional 1,633 shares during the period. AlphaQuest LLC bought a new position in shares of Bowman Consulting Group during the second quarter valued at approximately $103,000. Finally, Emerald Advisers LLC lifted its stake in Bowman Consulting Group by 105.9% in the second quarter. Emerald Advisers LLC now owns 6,333 shares of the company’s stock worth $182,000 after acquiring an additional 3,257 shares during the period. Hedge funds and other institutional investors own 63.20% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gary Bowman sold 7,500 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $35.37, for a total value of $265,275.00. Following the transaction, the chief executive officer owned 1,368,338 shares in the company, valued at $48,398,115.06. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 40,000 shares of company stock valued at $1,412,400 over the last 90 days. Insiders own 17.42% of the company’s stock.

Analyst Upgrades and Downgrades

BWMN has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 20th. JPMorgan Chase & Co. started coverage on shares of Bowman Consulting Group in a research note on Friday, January 9th. They set a “neutral” rating and a $40.00 target price on the stock. Roth Mkm increased 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 note on Monday, December 8th. Zacks Research upgraded shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Bowman Consulting Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.90.

Bowman Consulting Group Trading Down 1.4%

NASDAQ:BWMN opened at $34.84 on Wednesday. The firm has a market capitalization of $605.17 million, a P/E ratio of 37.46, a PEG ratio of 2.14 and a beta of 1.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.30 and a quick ratio of 1.30. Bowman Consulting Group Ltd. has a one year low of $17.90 and a one year high of $45.83. The company’s 50-day simple moving average is $34.93 and its 200 day simple moving average is $37.83.

Bowman Consulting Group (NASDAQ:BWMN) last released its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $130.45 million.

About Bowman Consulting Group

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.