Bruce Labovitz Sells 10,000 Shares of Bowman Consulting Group (NASDAQ:BWMN) Stock

Key Points

• CFO Bruce Labovitz of Bowman Consulting Group sold 10,000 shares at an average price of $43.30, totaling $433,000, reducing his ownership by 2.47%.
• The company recently initiated a $25 million stock buyback plan, suggesting that the board believes its shares are undervalued.
• Bowman Consulting has seen positive analyst sentiment, with upgrades to a "strong-buy" rating and a price target increase from $43.00 to $55.00.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) CFO Bruce Labovitz sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $43.30, for a total transaction of $433,000.00. Following the completion of the transaction, the chief financial officer directly owned 395,560 shares of the company's stock, valued at approximately $17,127,748. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bowman Consulting Group Price Performance

NASDAQ:BWMN traded down $0.70 on Thursday, hitting $41.87. The company had a trading volume of 65,720 shares, compared to its average volume of 111,508. The stock has a market capitalization of $722.26 million, a price-to-earnings ratio of 69.78 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. The firm has a 50 day moving average of $38.82 and a two-hundred day moving average of $29.75. Bowman Consulting Group Ltd. has a 52 week low of $17.90 and a 52 week high of $44.25.

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

Analyst Ratings Changes

BWMN has been the subject of several research reports. 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. B. Riley upped their price target 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. Finally, 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. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $38.17.

Hedge Funds Weigh In On Bowman Consulting Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pembroke Management LTD increased its position in shares of Bowman Consulting Group by 12.8% during the first quarter. Pembroke Management LTD now owns 520,519 shares of the company's stock worth $11,363,000 after buying an additional 59,197 shares during the period. Polar Asset Management Partners Inc. raised its position in shares of Bowman Consulting Group by 3.6% in the 1st quarter. Polar Asset Management Partners Inc. now owns 451,029 shares of the company's stock worth $9,846,000 after acquiring an additional 15,481 shares in the last quarter. Swedbank AB lifted its stake in shares of Bowman Consulting Group by 108.2% in the 2nd quarter. Swedbank AB now owns 416,492 shares of the company's stock valued at $11,974,000 after purchasing an additional 216,492 shares during the period. Summit Creek Advisors LLC boosted its position in shares of Bowman Consulting Group by 9.3% during the 1st quarter. Summit Creek Advisors LLC now owns 408,042 shares of the company's stock valued at $8,908,000 after purchasing an additional 34,599 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Bowman Consulting Group by 2.7% during the second quarter. Geode Capital Management LLC now owns 343,015 shares of the company's stock worth $9,864,000 after purchasing an additional 9,073 shares during the period. 63.20% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.