Bowman Consulting Group Ltd. $BWMN Shares Newly Acquired by Transmarket Holdings LP

Key Points

• Transmarket Holdings LP acquired 35,102 Bowman Consulting Group shares worth approximately $1.5 million in the third quarter, while institutional investors overall own 63.2% of the company.
• Bowman reported quarterly EPS of $0.62, beating estimates of $0.47, and revenue of $146.12 million versus expectations of $129.35 million. Analysts expect full-year EPS of $0.75.
• BWMN traded at $42.86, near its 52-week high, but analyst sentiment remained cautious: the stock carries a consensus “Reduce” rating and a $43.00 target price. Insiders sold approximately $2.6 million worth of shares during the last quarter.

Transmarket Holdings LP acquired a new position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,102 shares of the company's stock, valued at approximately $1,497,000. Bowman Consulting Group accounts for approximately 0.8% of Transmarket Holdings LP's portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of BWMN. BlackRock Inc. acquired a new position in shares of Bowman Consulting Group in the 2nd quarter valued at about $31,113,000. Dimensional Fund Advisors LP boosted its holdings in shares of Bowman Consulting Group by 13.1% during the first quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company's stock worth $10,744,000 after purchasing an additional 43,624 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in shares of Bowman Consulting Group by 12.3% during the first quarter. Polar Asset Management Partners Inc. now owns 320,000 shares of the company's stock worth $9,101,000 after purchasing an additional 34,976 shares during the period. Summit Creek Advisors LLC acquired a new stake in shares of Bowman Consulting Group during the second quarter worth approximately $6,431,000. Finally, Wellington Management Group LLP grew its position in Bowman Consulting Group by 215.2% during the second quarter. Wellington Management Group LLP now owns 184,736 shares of the company's stock valued at $5,394,000 after purchasing an additional 126,136 shares in the last quarter. Hedge funds and other institutional investors own 63.20% of the company's stock.

Bowman Consulting Group Stock Down 0.0%

BWMN opened at $42.86 on Thursday. The company has a market capitalization of $711.13 million, a PE ratio of 107.15 and a beta of 1.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90. Bowman Consulting Group Ltd. has a fifty-two week low of $25.07 and a fifty-two week high of $45.83. The business has a 50-day moving average of $42.63 and a 200-day moving average of $34.30.

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

Insider Buying and Selling

In other news, CEO Gary Bowman sold 22,500 shares of the stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $42.55, for a total transaction of $957,375.00. Following the transaction, the chief executive officer owned 1,272,838 shares in the company, valued at $54,159,256.90. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $42.37, for a total transaction of $37,412.71. Following the transaction, the director owned 26,330 shares in the company, valued at $1,115,602.10. This represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,797 shares of company stock valued at $2,615,310 over the last quarter. Corporate insiders own 17.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BWMN. Wolfe Research set a $43.00 price objective on shares of Bowman Consulting Group in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Bowman Consulting Group from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Capital One Financial set a $43.00 target price on shares of Bowman Consulting Group in a research note on Tuesday, August 11th. B. Riley Financial cut shares of Bowman Consulting Group from a "buy" rating to a "hold" rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. downgraded shares of Bowman Consulting Group from a "neutral" rating to an "underweight" rating and upped their price target for the stock from $40.00 to $43.00 in a research note on Friday, August 21st. Seven equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $43.00.

About Bowman Consulting Group

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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