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 firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $41.33, for a total value of $55,795.50. Following the transaction, the chief operating officer owned 10,954 shares of the company's stock, valued at $452,728.82. This trade represents a 10.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Bowman Consulting Group Price Performance

BWMN stock traded down $0.79 during midday trading on Friday, reaching $40.75. 76,848 shares of the company's stock traded hands, compared to its average volume of 131,959. The company has a 50-day simple moving average of $36.88 and a two-hundred day simple moving average of $28.54. Bowman Consulting Group Ltd. has a 1-year low of $17.90 and a 1-year high of $43.21. The company has a market cap of $702.98 million, a price-to-earnings ratio of 67.92 and a beta of 1.33. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.14.

Bowman Consulting Group announced that its board has authorized a share buyback plan on Friday, June 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BWMN shares. Wall Street Zen raised Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. B. Riley raised their price target on Bowman Consulting Group from $43.00 to $55.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Zacks Research raised Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, Bowman Consulting Group has an average rating of "Buy" and a consensus price target of $38.17.

Institutional Investors Weigh In On Bowman Consulting Group

A number of institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its stake in shares of Bowman Consulting Group by 28.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company's stock worth $41,000 after purchasing an additional 317 shares during the period. Comerica Bank lifted its holdings in Bowman Consulting Group by 7.0% during the first quarter. Comerica Bank now owns 11,532 shares of the company's stock worth $252,000 after acquiring an additional 751 shares in the last quarter. Boston Partners lifted its holdings in Bowman Consulting Group by 3.5% during the second quarter. Boston Partners now owns 23,738 shares of the company's stock worth $682,000 after acquiring an additional 813 shares in the last quarter. Rhumbline Advisers lifted its holdings in Bowman Consulting Group by 4.7% during the first quarter. Rhumbline Advisers now owns 18,829 shares of the company's stock worth $411,000 after acquiring an additional 845 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Bowman Consulting Group by 244.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock worth $66,000 after acquiring an additional 1,633 shares in the last quarter. 63.20% of the stock is owned by institutional investors and hedge funds.

Bowman Consulting Group Company Profile

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.