Summit Creek Advisors LLC cut its position in Bowman Consulting Group Ltd. (NASDAQ:BWMN – Free Report) by 29.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,600 shares of the company’s stock after selling 64,654 shares during the quarter. Bowman Consulting Group accounts for about 2.6% of Summit Creek Advisors LLC’s holdings, making the stock its 9th biggest holding. Summit Creek Advisors LLC’s holdings in Bowman Consulting Group were worth $6,635,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Bowman Consulting Group by 433.0% during the third quarter. Parallel Advisors LLC now owns 954 shares of the company’s stock worth $41,000 after purchasing an additional 775 shares during the last quarter. Inscription Capital LLC acquired a new position in shares of Bowman Consulting Group in the third quarter valued at approximately $258,000. Transmarket Holdings LP bought a new position in Bowman Consulting Group in the 3rd quarter valued at approximately $1,497,000. Inspire Investing LLC bought a new position in Bowman Consulting Group in the 3rd quarter valued at approximately $636,000. Finally, Skylands Capital LLC raised its holdings in Bowman Consulting Group by 140.1% in the 3rd quarter. Skylands Capital LLC now owns 42,900 shares of the company’s stock valued at $1,829,000 after buying an additional 25,035 shares during the last quarter. 63.20% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have weighed in on BWMN. Robert W. Baird set a $43.00 target price on shares of Bowman Consulting Group in a report on Monday, August 10th. B. Riley Financial downgraded shares of Bowman Consulting Group from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. downgraded shares of Bowman Consulting Group from a “neutral” rating to an “underweight” rating and raised their price target for the company from $40.00 to $43.00 in a research note on Friday, August 21st. Wall Street Zen upgraded shares of Bowman Consulting Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised shares of Bowman Consulting Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Seven investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $43.00.
Check Out Our Latest Stock Analysis on Bowman Consulting Group
Insider Transactions at Bowman Consulting Group
In other news, CEO Gary Bowman sold 22,500 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 $957,375.00. Following the transaction, the chief executive officer directly owned 1,272,838 shares of the company’s stock, valued at $54,159,256.90. The trade was a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the company’s stock in a transaction dated 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 owned 26,330 shares in the company, valued at approximately $1,115,602.10. The trade was a 3.24% decrease in their position. 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. Over the last quarter, insiders have sold 60,883 shares of company stock valued at $2,590,413. Company insiders own 17.50% of the company’s stock.
Bowman Consulting Group Price Performance
Shares of NASDAQ BWMN opened at $43.00 on Friday. Bowman Consulting Group Ltd. has a twelve month low of $25.07 and a twelve month high of $43.22. The firm has a fifty day simple moving average of $42.69 and a 200 day simple moving average of $34.55. The company has a market capitalization of $713.37 million, a PE ratio of 107.50 and a beta of 1.47. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.22.
Bowman Consulting Group (NASDAQ:BWMN – Get Free Report) last released its earnings results on Friday, November 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.65). The firm had revenue of $148.70 million during the quarter, compared to analyst estimates of $137.54 million. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. On average, sell-side analysts forecast that Bowman Consulting Group Ltd. will post 0.75 EPS for the current year.
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.
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