Bowman Consulting Group (NASDAQ:BWMN) Reaches New 52-Week High - Should You Buy?

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $44.25 and last traded at $43.24, with a volume of 80406 shares traded. The stock had previously closed at $43.89.

Analysts Set New Price Targets

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

Bowman Consulting Group Stock Performance

The firm has a market capitalization of $745.93 million, a PE ratio of 72.07 and a beta of 1.33. 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 company's fifty day moving average price is $38.61 and its two-hundred day moving average price is $29.66.

Bowman Consulting Group declared that its Board of Directors has authorized a stock buyback program on Friday, June 6th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Stephen A. Riddick sold 3,000 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $41.04, for a total transaction of $123,120.00. Following the transaction, the director directly owned 18,461 shares in the company, valued at $757,639.44. This represents a 13.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Daniel Swayze sold 1,350 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $41.33, for a total transaction of $55,795.50. Following the transaction, the chief operating officer owned 10,954 shares in the company, valued at approximately $452,728.82. The trade was a 10.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,750 shares of company stock worth $190,540. Insiders own 17.42% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BWMN. Ameritas Investment Partners Inc. raised its holdings in Bowman Consulting Group by 28.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company's stock valued at $41,000 after buying an additional 317 shares during the period. BNP Paribas Financial Markets purchased a new position in Bowman Consulting Group in the fourth quarter valued at approximately $42,000. Brooklyn Investment Group purchased a new position in Bowman Consulting Group in the first quarter valued at approximately $45,000. Tower Research Capital LLC TRC raised its holdings in Bowman Consulting Group by 244.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock valued at $66,000 after buying an additional 1,633 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Bowman Consulting Group by 1,856.3% in 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 during the period. Hedge funds and other institutional investors own 63.20% of the company's stock.

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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