Bowman Consulting Group Ltd. $BWMN Stock Holdings Increased by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. increased its stake in Bowman Consulting Group by 3.6%, now holding about 2.62% of the company, valued at approximately $9.85 million.
• Several institutional investors, including Cetera Investment Advisers and Pembroke Management LTD, significantly increased their holdings, contributing to a total of 63.20% institutional ownership of Bowman Consulting Group's stock.
• Research analysts have upgraded Bowman Consulting Group's rating to strong-buy, with target prices reaching as high as $55.00, reflecting positive market sentiment.

Polar Asset Management Partners Inc. lifted its holdings in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 451,029 shares of the company's stock after purchasing an additional 15,481 shares during the quarter. Polar Asset Management Partners Inc. owned about 2.62% of Bowman Consulting Group worth $9,846,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Royal Bank of Canada boosted its holdings in shares of Bowman Consulting Group by 51.0% during the first quarter. Royal Bank of Canada now owns 48,613 shares of the company's stock worth $1,061,000 after purchasing an additional 16,421 shares during the last quarter. Pembroke Management LTD boosted its holdings 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 purchasing an additional 59,197 shares during the last quarter. Comerica Bank boosted its holdings in Bowman Consulting Group by 7.0% in the first quarter. Comerica Bank now owns 11,532 shares of the company's stock valued at $252,000 after acquiring an additional 751 shares during the last quarter. Brooklyn Investment Group acquired a new position in Bowman Consulting Group in the first quarter valued at $45,000. Finally, Russell Investments Group Ltd. boosted its holdings in Bowman Consulting Group by 9.4% in the first quarter. Russell Investments Group Ltd. now owns 128,671 shares of the company's stock valued at $2,809,000 after acquiring an additional 11,006 shares during the last quarter. Institutional investors and hedge funds own 63.20% of the company's stock.

Insider Transactions at Bowman Consulting Group

In other news, 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 transaction of $123,120.00. Following the sale, the director directly owned 18,461 shares of the company's stock, valued at approximately $757,639.44. The trade was a 13.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel Swayze sold 1,350 shares of Bowman Consulting Group stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $41.33, for a total value of $55,795.50. Following the sale, the chief operating officer directly 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 ninety days, insiders have sold 10,150 shares of company stock valued at $335,024. 17.42% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BWMN. Zacks Research upgraded Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. B. Riley lifted their target price 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, Wall Street Zen upgraded Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $38.17.

Bowman Consulting Group Stock Up 1.8%

Shares of BWMN traded up $0.75 during midday trading on Thursday, reaching $41.52. 46,363 shares of the company were exchanged, compared to its average volume of 109,233. The stock has a 50-day moving average price of $36.42 and a 200-day moving average price of $28.21. The company has a market cap of $716.22 million, a price-to-earnings ratio of 69.25 and a beta of 1.33. Bowman Consulting Group Ltd. has a 1-year low of $17.90 and a 1-year high of $43.21. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14.

Bowman Consulting Group announced that its Board of Directors has initiated a share buyback program on Friday, June 6th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.