Rhumbline Advisers Buys 845 Shares of Bowman Consulting Group Ltd. $BWMN

Rhumbline Advisers boosted its stake in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) by 4.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,829 shares of the company’s stock after acquiring an additional 845 shares during the quarter. Rhumbline Advisers owned approximately 0.11% of Bowman Consulting Group worth $411,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in Bowman Consulting Group by 527.6% during the 1st quarter. Cetera Investment Advisers now owns 82,343 shares of the company’s stock worth $1,798,000 after acquiring an additional 69,223 shares during the last quarter. Pembroke Management LTD boosted its stake in Bowman Consulting Group by 12.8% during the 1st quarter. Pembroke Management LTD now owns 520,519 shares of the company’s stock worth $11,363,000 after acquiring an additional 59,197 shares during the last quarter. Brookwood Investment Group LLC bought a new position in Bowman Consulting Group during the 1st quarter worth approximately $866,000. Summit Creek Advisors LLC boosted its stake in Bowman Consulting Group by 9.3% during the 1st quarter. Summit Creek Advisors LLC now owns 408,042 shares of the company’s stock worth $8,908,000 after acquiring an additional 34,599 shares during the last quarter. Finally, Nuveen LLC bought a new position in Bowman Consulting Group during the 1st quarter worth approximately $566,000. Institutional investors own 63.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on BWMN shares. Wall Street Zen upgraded shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. B. Riley raised their target price on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Zacks Research upgraded shares of Bowman Consulting Group from a “hold” rating to a “strong-buy” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $38.17.

Bowman Consulting Group Trading Down 1.5%

BWMN stock opened at $42.57 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.26 and a quick ratio of 1.26. The company has a fifty day moving average price of $38.82 and a two-hundred day moving average price of $29.75. Bowman Consulting Group Ltd. has a one year low of $17.90 and a one year high of $44.25. The stock has a market cap of $734.33 million, a price-to-earnings ratio of 70.95 and a beta of 1.33.

Bowman Consulting Group announced that its board has authorized a stock buyback program on Friday, June 6th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO Daniel Swayze sold 1,350 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $41.33, for a total value of $55,795.50. Following the completion of the transaction, the chief operating officer owned 10,954 shares of the company’s stock, valued at $452,728.82. The trade was a 10.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen A. Riddick sold 3,000 shares of Bowman Consulting Group stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $41.04, for a total value of $123,120.00. Following the completion of the transaction, the director owned 18,461 shares in the company, valued at approximately $757,639.44. This represents a 13.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,750 shares of company stock valued at $190,540 in the last three months. Insiders own 17.42% of the company’s stock.

About Bowman Consulting Group

Bowman Consulting Group Ltd. provides a range of real estate, energy, infrastructure, and environmental management solutions in the United States. It offers civil and site engineering services, such as conceptual land planning, environmental consulting and permitting, planning/zoning and entitlements, roadway and highway designs, erosion and sediment designs, stormwater management designs, construction administration, traffic studies, floodplain studies, and utility relocation designs; and commissioning and energy efficiency services comprise construction observation, direct systems functional performance testing, system development readiness checklist, post occupancy review, review of construction documents, deferred/seasonal functional testing, final commissioning report, and commissioning review of submittals.