Bowman Consulting Group Ltd. (NASDAQ:BWMN) Short Interest Up 24.4% in March

Key Points

• Short interest rose 24.4% in March to 421,405 shares (about 3.0% of shares), leaving a short-interest ratio of 2.2 days — signaling increased short selling activity.
• CEO Gary Bowman sold 12,500 shares in January (a 1.4% reduction of his position); insiders still own 17.42% of the stock while institutional investors hold about 63.2%.
• Analysts are mixed but the consensus is a "Moderate Buy" with an average target of $45.50, versus a recent share price near $28.63, and the company recently beat quarterly EPS estimates ($0.45 vs. $0.38).

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 421,405 shares, a growth of 24.4% from the February 26th total of 338,641 shares. Approximately 3.0% of the company's shares are short sold. Based on an average daily trading volume, of 192,250 shares, the short-interest ratio is presently 2.2 days.

Insider Buying and Selling

In related news, CEO Gary Bowman sold 12,500 shares of Bowman Consulting Group stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $35.37, for a total transaction of $442,125.00. Following the completion of the sale, the chief executive officer owned 879,943 shares in the company, valued at $31,123,583.91. This trade represents a 1.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.42% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new stake in Bowman Consulting Group in the third quarter valued at about $40,000. Ameritas Investment Partners Inc. raised its position 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 purchasing an additional 317 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in Bowman Consulting Group in the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC grew its position in Bowman Consulting Group by 244.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock worth $66,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Bowman Consulting Group during the 3rd quarter valued at approximately $175,000. 63.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BWMN has been the subject of a number of research reports. Zacks Research lowered Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of Bowman Consulting Group in a report on Friday. JPMorgan Chase & Co. began coverage on Bowman Consulting Group in a research note on Friday, January 9th. They set a "neutral" rating and a $40.00 price target on the stock. Wall Street Zen lowered shares of Bowman Consulting Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Finally, Roth Mkm raised 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. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $45.50.

Bowman Consulting Group Stock Performance

BWMN stock opened at $28.63 on Monday. The firm has a market cap of $490.15 million, a price-to-earnings ratio of 40.32, a PEG ratio of 1.75 and a beta of 1.34. The firm has a 50-day simple moving average of $32.26 and a two-hundred day simple moving average of $36.08. Bowman Consulting Group has a one year low of $20.24 and a one year high of $45.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.99 and a current ratio of 0.99.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.07. The firm had revenue of $128.96 million for the quarter, compared to the consensus estimate of $129.12 million. Bowman Consulting Group had a net margin of 2.48% and a return on equity of 4.78%.

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.

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