Bowman Consulting Group Ltd. $BWMN Shares Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Bowman Consulting Group stake by 77.5% in the first quarter, purchasing 43,379 additional shares for a total holding of 99,379 shares valued at approximately $2.83 million. Institutional investors collectively own 63.2% of BWMN.
• Analyst sentiment is mixed, with three Buy, two Hold, and one Sell rating. The stock has a consensus rating of Hold and an average price target of $47.50.
• BWMN opened at $27.23, well below its 52-week high of $45.83, while a company director recently sold 1,230 shares at an average price of $33.34. Insiders retain a 17.5% ownership stake.

Renaissance Technologies LLC grew its position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 77.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,379 shares of the company's stock after purchasing an additional 43,379 shares during the period. Renaissance Technologies LLC owned approximately 0.57% of Bowman Consulting Group worth $2,826,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Creek Advisors LLC grew its position in Bowman Consulting Group by 10.1% in the 4th quarter. Summit Creek Advisors LLC now owns 399,094 shares of the company's stock valued at $13,178,000 after acquiring an additional 36,645 shares in the last quarter. Royce & Associates LP purchased a new position in shares of Bowman Consulting Group in the fourth quarter valued at approximately $2,141,000. North Star Investment Management Corp. acquired a new position in shares of Bowman Consulting Group in the first quarter valued at approximately $910,000. Dimensional Fund Advisors LP increased its stake in Bowman Consulting Group by 13.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company's stock worth $10,744,000 after buying an additional 43,624 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in Bowman Consulting Group during the 1st quarter worth approximately $196,000. Hedge funds and other institutional investors own 63.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BWMN shares. JPMorgan Chase & Co. raised their price target on shares of Bowman Consulting Group from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Roth Capital set a $58.00 price objective on Bowman Consulting Group and gave the company a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings raised Bowman Consulting Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen downgraded Bowman Consulting Group from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $47.50.

Bowman Consulting Group Price Performance

Shares of NASDAQ BWMN opened at $27.23 on Monday. The business has a 50-day moving average of $28.77 and a two-hundred day moving average of $30.78. The company has a market capitalization of $476.80 million, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 3.43 and a beta of 1.36. Bowman Consulting Group Ltd. has a 1 year low of $25.07 and a 1 year high of $45.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.93 and a quick ratio of 0.93.

Insiders Place Their Bets

In related news, Director Raymond Jr. Vicks sold 1,230 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $33.34, for a total transaction of $41,008.20. Following the completion of the sale, the director owned 18,143 shares in the company, valued at $604,887.62. The trade was a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is currently owned by insiders.

Bowman Consulting Group Profile

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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