Bowman Consulting Group (NASDAQ:BWMN) COO Daniel Swayze Sells 1,350 Shares

Key Points

• Bowman Consulting Group's COO, Daniel Swayze, sold 1,350 shares at an average price of $41.33, resulting in a 10.97% decrease in his holdings.
• The company has launched a $25 million share buyback plan, indicating management's belief that the stock is undervalued.
• Recent upgrades from analysts have improved the stock's outlook, with consensus ratings now reflecting a "Buy" and a target price of $38.17.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) COO Daniel Swayze sold 1,350 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $41.33, for a total transaction of $55,795.50. Following the completion of the transaction, the chief operating officer owned 10,954 shares of the company's stock, valued at $452,728.82. This represents a 10.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bowman Consulting Group Price Performance

BWMN traded down $0.70 on Tuesday, reaching $40.66. The company had a trading volume of 127,883 shares, compared to its average volume of 109,627. The company has a fifty day moving average of $35.95 and a 200-day moving average of $28.04. The company has a market capitalization of $701.39 million, a P/E ratio of 67.77 and a beta of 1.33. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. Bowman Consulting Group Ltd. has a one year low of $17.90 and a one year high of $43.21.

Bowman Consulting Group declared that its Board of Directors has initiated a share buyback plan on Friday, June 6th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BWMN shares. Wall Street Zen upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Zacks Research upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Finally, B. Riley raised 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 report on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $38.17.

Institutional Trading of Bowman Consulting Group

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Bowman Consulting Group by 4.7% during the first quarter. Rhumbline Advisers now owns 18,829 shares of the company's stock valued at $411,000 after buying an additional 845 shares in the last quarter. Cetera Investment Advisers lifted its stake in Bowman Consulting Group by 527.6% during the first quarter. Cetera Investment Advisers now owns 82,343 shares of the company's stock valued at $1,798,000 after buying an additional 69,223 shares in the last quarter. Bank of America Corp DE lifted its stake in Bowman Consulting Group by 97.7% during the fourth quarter. Bank of America Corp DE now owns 18,834 shares of the company's stock valued at $470,000 after buying an additional 9,307 shares in the last quarter. GAMMA Investing LLC lifted its stake in Bowman Consulting Group by 1,856.3% during the first quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock valued at $99,000 after buying an additional 4,288 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Bowman Consulting Group by 74.4% during the fourth quarter. Deutsche Bank AG now owns 13,031 shares of the company's stock valued at $325,000 after buying an additional 5,560 shares in the last quarter. 63.20% of the stock is owned by hedge funds and other institutional investors.

About Bowman Consulting Group

Bowman Consulting Group Ltd. provides a range of real estate, energy, infrastructure, and environmental management solutions in the United States. It offers civil and site engineering services, such as conceptual land planning, environmental consulting and permitting, planning/zoning and entitlements, roadway and highway designs, erosion and sediment designs, stormwater management designs, construction administration, traffic studies, floodplain studies, and utility relocation designs; and commissioning and energy efficiency services comprise construction observation, direct systems functional performance testing, system development readiness checklist, post occupancy review, review of construction documents, deferred/seasonal functional testing, final commissioning report, and commissioning review of submittals.

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