Bowman Consulting Group Ltd. $BWMN Position Lifted by Skylands Capital LLC

Key Points

• Skylands Capital increased its Bowman Consulting Group position by 140.1% in the third quarter, bringing its holdings to 42,900 shares worth approximately $1.83 million. Institutional investors collectively own 63.2% of BWMN.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with seven analysts rating it Hold and one Sell, and an average price target of $43.00.
• Bowman reported stronger-than-expected quarterly results, posting $0.62 in EPS versus estimates of $0.47 and revenue of $146.12 million versus expectations of $129.35 million. Meanwhile, insiders sold 61,797 shares worth about $2.62 million over the past 90 days.

Skylands Capital LLC grew its position in Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 140.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,900 shares of the company's stock after acquiring an additional 25,035 shares during the quarter. Skylands Capital LLC owned about 0.26% of Bowman Consulting Group worth $1,829,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of Bowman Consulting Group by 77.5% during the 1st quarter. Renaissance Technologies LLC now owns 99,379 shares of the company's stock worth $2,826,000 after purchasing an additional 43,379 shares during the period. BlackRock Inc. bought a new position in Bowman Consulting Group during the 2nd quarter valued at about $31,113,000. Polar Asset Management Partners Inc. bought a new position in Bowman Consulting Group during the 2nd quarter valued at about $7,210,000. Bank of New York Mellon Corp bought a new position in Bowman Consulting Group during the 2nd quarter valued at about $1,187,000. Finally, Bank of America Corp DE purchased a new stake in Bowman Consulting Group in the 2nd quarter worth about $760,000. Hedge funds and other institutional investors own 63.20% of the company's stock.

Analyst Upgrades and Downgrades

BWMN has been the subject of several analyst reports. Capital One Financial set a $43.00 price objective on shares of Bowman Consulting Group in a research note on Tuesday, August 11th. B. Riley Financial lowered Bowman Consulting Group from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Craig Hallum cut Bowman Consulting Group from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a research note on Tuesday, August 11th. Wall Street Zen upgraded Bowman Consulting Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Finally, Wolfe Research set a $43.00 price target on Bowman Consulting Group in a report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $43.00.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 883 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $42.37, for a total value of $37,412.71. Following the completion of the sale, the director owned 26,330 shares in the company, valued at approximately $1,115,602.10. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary Bowman sold 37,500 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $42.55, for a total value of $1,595,625.00. Following the completion of the sale, the chief executive officer owned 780,948 shares of the company's stock, valued at $33,229,337.40. The trade was a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 61,797 shares of company stock worth $2,615,310. Corporate insiders own 17.50% of the company's stock.

Bowman Consulting Group Stock Performance

NASDAQ BWMN opened at $42.79 on Thursday. The stock has a market cap of $709.97 million, a PE ratio of 106.97 and a beta of 1.48. Bowman Consulting Group Ltd. has a 12 month low of $25.07 and a 12 month high of $45.83. The company's 50-day moving average price is $42.58 and its 200-day moving average price is $34.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.15. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. The company had revenue of $146.12 million during the quarter, compared to analyst estimates of $129.35 million. Equities research analysts forecast that Bowman Consulting Group Ltd. will post 0.75 earnings per share for the current year.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. NASDAQ: BWMN is an engineering services firm that provides infrastructure, planning, surveying, and consulting solutions to public- and private-sector clients. The company supports projects throughout their development and construction life cycles, serving markets such as transportation, power and utilities, commercial and residential real estate, and public infrastructure.

Its services include civil engineering, land surveying, geomatics, environmental consulting, landscape architecture, construction management, right-of-way services, and utility engineering.

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