Bowman Consulting Group (NASDAQ:BWMN) Sees Strong Trading Volume – Here’s What Happened

Shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) saw strong trading volume on Wednesday. 528,233 shares traded hands during trading, an increase of 135% from the average daily volume of 224,471 shares. The stock last traded at $42.9450 and had previously closed at $42.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BWMN shares. Wall Street Zen raised Bowman Consulting Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Robert W. Baird set a $43.00 price target on Bowman Consulting Group in a research report on Monday, August 10th. Texas Capital cut Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded Bowman Consulting Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, Craig Hallum downgraded Bowman Consulting Group from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bowman Consulting Group currently has an average rating of “Reduce” and an average target price of $43.00.

Bowman Consulting Group Stock Down 0.1%

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $712.29 million, a PE ratio of 107.34 and a beta of 1.47. The company has a 50 day moving average price of $42.66 and a 200-day moving average price of $34.45.

Bowman Consulting Group (NASDAQ:BWMN) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.15. The company had revenue of $146.12 million during the quarter, compared to analyst estimates of $129.35 million. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%. As a group, analysts forecast that Bowman Consulting Group Ltd. will post 0.75 earnings per share for the current fiscal year.

Insider Transactions at Bowman Consulting Group

In other Bowman Consulting Group news, CEO Gary Bowman sold 37,500 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $42.55, for a total value of $1,595,625.00. Following the completion of the sale, the chief executive officer directly owned 780,948 shares in the company, valued at $33,229,337.40. This trade represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of Bowman Consulting Group stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the sale, the director directly owned 26,330 shares in the company, valued at approximately $1,115,602.10. The trade was a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 61,797 shares of company stock valued at $2,615,310. 17.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Bowman Consulting Group

A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Bowman Consulting Group by 433.0% in the third quarter. Parallel Advisors LLC now owns 954 shares of the company’s stock worth $41,000 after acquiring an additional 775 shares during the period. Inscription Capital LLC bought a new position in Bowman Consulting Group during the third quarter valued at approximately $258,000. Transmarket Holdings LP bought a new position in Bowman Consulting Group during the third quarter valued at approximately $1,497,000. Inspire Investing LLC purchased a new stake in Bowman Consulting Group in the third quarter worth approximately $636,000. Finally, Skylands Capital LLC boosted its holdings in Bowman Consulting Group by 140.1% in the third quarter. Skylands Capital LLC now owns 42,900 shares of the company’s stock worth $1,829,000 after purchasing an additional 25,035 shares during the last quarter. Institutional investors own 63.20% of the company’s stock.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. (NASDAQ: BWMN) is an engineering services firm that provides infrastructure, planning, surveying, and consulting solutions to public- and private-sector clients. The company supports projects throughout their development and construction life cycles, serving markets such as transportation, power and utilities, commercial and residential real estate, and public infrastructure.

Its services include civil engineering, land surveying, geomatics, environmental consulting, landscape architecture, construction management, right-of-way services, and utility engineering.