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

Bowman Consulting Group Ltd. (NASDAQ:BWMN)’s share price fell 4.3% during mid-day trading on Friday following insider selling activity. The stock traded as low as $34.00 and last traded at $34.0250. 62,053 shares traded hands during mid-day trading, a decline of 45% from the average session 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 value of $264,375.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary Bowman sold 12,500 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $35.25, for a total value of $440,625.00. Following the transaction, the chief executive officer directly owned 892,443 shares of the company’s stock, valued at approximately $31,458,615.75. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research downgraded Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Wall Street Zen cut shares of Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. B. Riley boosted 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. Roth Capital upped their target price on shares of Bowman Consulting Group from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Bowman Consulting Group in a research report on Monday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.13.

Bowman Consulting Group Trading Down 5.8%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $582.07 million, a price-to-earnings ratio of 36.03, a P/E/G ratio of 2.20 and a beta of 1.32. The company’s fifty day moving average is $37.73 and its two-hundred day moving average is $36.41.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new position in Bowman Consulting Group in the third quarter valued at approximately $40,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Bowman Consulting Group by 28.4% in the 2nd 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 in the last quarter. Brooklyn Investment Group purchased a new position in shares of Bowman Consulting Group in the 1st quarter valued at $45,000. Tower Research Capital LLC TRC lifted its position in Bowman Consulting Group by 244.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock valued at $66,000 after acquiring an additional 1,633 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in Bowman Consulting Group in the second quarter valued at $103,000. Hedge funds and other institutional investors own 63.20% of the company’s stock.

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.