Brookwood Investment Group LLC Invests $866,000 in Bowman Consulting Group Ltd. (NASDAQ:BWMN)

Key Points

• Brookwood Investment Group LLC has acquired 39,681 shares of Bowman Consulting Group Ltd., valued at approximately $866,000, marking a new position in the company.
• Multiple institutional investors, including Kornitzer Capital Management and GAMMA Investing LLC, have significantly increased their holdings in Bowman Consulting during the first quarter of 2023.
• Analysts have mixed opinions on the stock, with a consensus rating of "Moderate Buy" and a price target range varying from $29.00 to $43.00.

Brookwood Investment Group LLC acquired a new stake in Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,681 shares of the company's stock, valued at approximately $866,000. Brookwood Investment Group LLC owned approximately 0.23% of Bowman Consulting Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS grew its stake in shares of Bowman Consulting Group by 13.4% during the first quarter. Kornitzer Capital Management Inc. KS now owns 68,500 shares of the company's stock worth $1,495,000 after acquiring an additional 8,100 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of Bowman Consulting Group by 20.8% during the first quarter. Conestoga Capital Advisors LLC now owns 56,630 shares of the company's stock worth $1,236,000 after purchasing an additional 9,760 shares during the period. NBC Securities Inc. lifted its holdings in shares of Bowman Consulting Group by 100,080.0% during the first quarter. NBC Securities Inc. now owns 5,009 shares of the company's stock worth $109,000 after purchasing an additional 5,004 shares during the period. Rhumbline Advisers lifted its holdings in shares of Bowman Consulting Group by 4.7% during the first quarter. Rhumbline Advisers now owns 18,829 shares of the company's stock worth $411,000 after purchasing an additional 845 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Bowman Consulting Group by 1,856.3% during the first quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock worth $99,000 after purchasing an additional 4,288 shares during the period. 63.20% of the stock is currently owned by institutional investors.

Bowman Consulting Group Price Performance

NASDAQ BWMN traded down $0.88 during mid-day trading on Monday, hitting $35.25. The stock had a trading volume of 34,779 shares, compared to its average volume of 99,135. The firm's 50 day moving average is $28.48 and its 200 day moving average is $24.91. Bowman Consulting Group Ltd. has a twelve month low of $17.90 and a twelve month high of $37.34. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market capitalization of $607.36 million, a price-to-earnings ratio of 271.15, a PEG ratio of 5.11 and a beta of 1.29.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.21). Bowman Consulting Group had a return on equity of 2.74% and a net margin of 0.54%.

Bowman Consulting Group announced that its board has initiated a share repurchase plan on Friday, June 6th that authorizes the company to repurchase $25.00 million in outstanding 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 a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BWMN shares. Robert W. Baird lifted their target price on Bowman Consulting Group from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen downgraded Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, B. Riley upped their target price on Bowman Consulting Group from $33.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.38.

Insider Buying and Selling at Bowman Consulting Group

In related news, insider Robert Alan Hickey sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $26.70, for a total transaction of $133,500.00. Following the completion of the transaction, the insider directly owned 176,685 shares in the company, valued at $4,717,489.50. This trade represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 6,024 shares of company stock worth $162,514. Corporate insiders own 17.42% of the company's stock.

Bowman Consulting Group 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.