Bowman Consulting Group (NASDAQ:BWMN) Downgraded to Hold Rating by Zacks Research

Key Points

• Bowman Consulting Group (NASDAQ:BWMN) has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating.
• Despite the downgrade, there is a consensus rating of "Moderate Buy" among analysts, with a price target of $38.17.
• Insider trading activity includes CEO Gary Bowman selling 12,500 shares, decreasing his ownership by 1.34%.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

BWMN has been the subject of several other reports. Wall Street Zen raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. B. Riley upped their price objective 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, Weiss Ratings reiterated a "hold (c)" rating on shares of Bowman Consulting Group in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.17.

Bowman Consulting Group Trading Up 3.5%

NASDAQ BWMN opened at $43.06 on Tuesday. Bowman Consulting Group has a one year low of $17.90 and a one year high of $44.25. The company has a 50-day simple moving average of $40.44 and a 200-day simple moving average of $31.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $742.83 million, a PE ratio of 71.77 and a beta of 1.31.

Insider Buying and Selling

In other Bowman Consulting Group news, CEO Gary Bowman sold 12,500 shares of the firm's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $42.39, for a total transaction of $529,875.00. Following the transaction, the chief executive officer directly owned 919,024 shares in the company, valued at $38,957,427.36. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen A. Riddick sold 3,000 shares of Bowman Consulting Group stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $41.04, for a total value of $123,120.00. Following the completion of the transaction, the director owned 18,461 shares in the company, valued at $757,639.44. The trade was a 13.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,350 shares of company stock valued at $1,459,716 in the last three months. 17.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bowman Consulting Group

A number of institutional investors have recently made changes to their positions in BWMN. Bank of America Corp DE increased its stake in shares of Bowman Consulting Group by 97.7% in the fourth quarter. Bank of America Corp DE now owns 18,834 shares of the company's stock worth $470,000 after purchasing an additional 9,307 shares during the period. GAMMA Investing LLC grew its position 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 worth $99,000 after buying an additional 4,288 shares in the last quarter. Rhumbline Advisers grew its position 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 buying an additional 845 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Bowman Consulting Group by 20.8% during the first quarter. Conestoga Capital Advisors LLC now owns 56,630 shares of the company's stock worth $1,236,000 after buying an additional 9,760 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its position in Bowman Consulting Group by 13.4% during the first quarter. Kornitzer Capital Management Inc. KS now owns 68,500 shares of the company's stock worth $1,495,000 after buying an additional 8,100 shares in the last quarter. 63.20% of the stock is currently owned by institutional investors.

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.

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