Ellsworth Advisors LLC Acquires New Position in Bowman Consulting Group Ltd. $BWMN

Ellsworth Advisors LLC acquired a new stake in Bowman Consulting Group Ltd. (NASDAQ:BWMN) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 18,316 shares of the company’s stock, valued at approximately $808,000. Ellsworth Advisors LLC owned 0.11% of Bowman Consulting Group as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Pembroke Management LTD increased its stake in shares of Bowman Consulting Group by 12.8% in the first 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. Polar Asset Management Partners Inc. grew its stake in Bowman Consulting Group by 3.6% in the first quarter. Polar Asset Management Partners Inc. now owns 451,029 shares of the company’s stock valued at $9,846,000 after purchasing an additional 15,481 shares in the last quarter. Swedbank AB increased its position in Bowman Consulting Group by 8.0% in the 3rd quarter. Swedbank AB now owns 450,000 shares of the company’s stock worth $19,062,000 after purchasing an additional 33,508 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Bowman Consulting Group by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 343,015 shares of the company’s stock worth $9,864,000 after purchasing an additional 9,073 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of Bowman Consulting Group by 4.7% during the 2nd quarter. Marshall Wace LLP now owns 152,646 shares of the company’s stock valued at $4,389,000 after buying an additional 6,814 shares during the last quarter. Institutional investors and hedge funds own 63.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Roth Capital increased their price objective on Bowman Consulting Group from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Zacks Research lowered shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. B. Riley lifted their price objective on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Wall Street Zen cut shares of Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bowman Consulting Group in a report on Monday. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Bowman Consulting Group has a consensus rating of “Moderate Buy” and an average price target of $41.13.

Bowman Consulting Group Stock Performance

NASDAQ:BWMN opened at $34.60 on Friday. The firm has a market capitalization of $601.00 million, a PE ratio of 37.20, a PEG ratio of 2.13 and a beta of 1.32. Bowman Consulting Group Ltd. has a 1 year low of $17.90 and a 1 year high of $45.83. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $36.88 and its 200 day simple moving average is $36.68.

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

Insider Buying and Selling

In other news, CEO Gary Bowman sold 7,500 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $35.25, for a total value of $264,375.00. Following the sale, the chief executive officer owned 1,375,838 shares in the company, valued at approximately $48,498,289.50. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce J. Labovitz sold 10,000 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $42.37, for a total transaction of $423,700.00. Following the transaction, the chief financial officer owned 385,560 shares of the company’s stock, valued at approximately $16,336,177.20. The trade was a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 50,000 shares of company stock worth $1,974,100 in the last ninety days. Insiders own 17.42% of the company’s stock.

Bowman Consulting Group 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.