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

Bowman Consulting Group Ltd. (NASDAQ:BWMN) saw unusually-high trading volume on Wednesday. Approximately 528,233 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

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

Bowman Consulting Group Trading Down 0.1%

The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current 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 stock has a 50-day moving average price of $42.66 and a two-hundred day moving average price of $34.45.

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

Insider Transactions at Bowman Consulting Group

In related news, CEO Gary Bowman sold 37,500 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $42.55, for a total value of $1,595,625.00. Following the sale, the chief executive officer directly owned 780,948 shares in the company, valued at approximately $33,229,337.40. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $42.37, for a total value of $37,412.71. Following the completion of the sale, the director owned 26,330 shares in the company, valued at $1,115,602.10. This represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 61,797 shares of company stock valued at $2,615,310. Company insiders own 17.50% of the company’s stock.

Institutional Trading of Bowman Consulting Group

A number of large investors have recently added to or reduced their stakes in BWMN. BlackRock Inc. purchased a new stake in shares of Bowman Consulting Group during the 2nd quarter worth approximately $31,113,000. Dimensional Fund Advisors LP boosted its position in shares of Bowman Consulting Group by 13.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company’s stock valued at $10,744,000 after acquiring an additional 43,624 shares during the last quarter. Polar Asset Management Partners Inc. grew its holdings in shares of Bowman Consulting Group by 12.3% in the first quarter. Polar Asset Management Partners Inc. now owns 320,000 shares of the company’s stock valued at $9,101,000 after purchasing an additional 34,976 shares in the last quarter. Summit Creek Advisors LLC purchased a new position in shares of Bowman Consulting Group in the second quarter valued at $6,431,000. Finally, Wellington Management Group LLP grew its holdings in shares of Bowman Consulting Group by 215.2% in the second quarter. Wellington Management Group LLP now owns 184,736 shares of the company’s stock valued at $5,394,000 after purchasing an additional 126,136 shares in the last quarter. Institutional investors own 63.20% of the company’s stock.

About Bowman Consulting Group

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.