Bowman Consulting Group (NASDAQ:BWMN) Shares Gap Down - Time to Sell?

Key Points

• Bowman gapped down before the open, falling from $32.94 to $30.76 (about a 9.0% drop) and last trading near $30.73 on volume of ~51,900 shares.
• Analyst views are mixed — the consensus is a "Moderate Buy" with an average price target of $40.90 (4 Buys vs. 3 Holds); notable calls include Roth raising its target to $50 and Zacks downgrading to Hold.
• Operationally Bowman beat EPS expectations ($0.45 vs. $0.38) though revenue was marginally below forecasts, it has low leverage (debt/equity 0.14) and a market cap of about $520.6M, while insiders sold ~40,000 shares last quarter (CEO sold 12,500).

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $32.94, but opened at $30.76. Bowman Consulting Group shares last traded at $30.73, with a volume of 51,907 shares.

Analysts Set New Price Targets

Several analysts have weighed in on BWMN shares. Zacks Research downgraded Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of Bowman Consulting Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bowman Consulting Group in a report on Monday, December 29th. 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 note on Monday, December 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Bowman Consulting Group in a research note on Friday, January 9th. They issued a "neutral" rating and a $40.00 price target for the company. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Bowman Consulting Group has an average rating of "Moderate Buy" and an average target price of $40.90.

Bowman Consulting Group Trading Down 9.0%

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $34.41 and its 200 day simple moving average is $37.61. The stock has a market capitalization of $520.58 million, a P/E ratio of 32.23, a PEG ratio of 1.95 and a beta of 1.34.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07. Bowman Consulting Group had a net margin of 3.33% and a return on equity of 6.30%. The company had revenue of $128.96 million for the quarter, compared to analysts' expectations of $129.12 million.

Insider Activity

In other news, CEO Gary Bowman sold 12,500 shares of the stock in a transaction on Wednesday, January 21st. The stock was 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 approximately $31,123,583.91. This represents a 1.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 40,000 shares of company stock valued at $1,412,400 over the last quarter. 17.42% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bowman Consulting Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its holdings in shares of Bowman Consulting Group by 3,560.2% during the third quarter. Alliancebernstein L.P. now owns 524,867 shares of the company's stock valued at $22,233,000 after purchasing an additional 510,527 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Bowman Consulting Group during the 3rd quarter worth about $6,590,000. Tudor Investment Corp ET AL purchased a new stake in Bowman Consulting Group during the third quarter valued at about $3,958,000. JPMorgan Chase & Co. boosted its holdings in shares of Bowman Consulting Group by 998.9% in the third quarter. JPMorgan Chase & Co. now owns 100,309 shares of the company's stock worth $4,249,000 after buying an additional 91,181 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Bowman Consulting Group in the second quarter worth approximately $2,022,000. 63.20% of the stock is owned by institutional investors and hedge funds.

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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