Conestoga Capital Advisors LLC Boosts Stock Position in Bowman Consulting Group Ltd. (NASDAQ:BWMN)

Conestoga Capital Advisors LLC grew its stake in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 20.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,630 shares of the company's stock after purchasing an additional 9,760 shares during the quarter. Conestoga Capital Advisors LLC owned approximately 0.33% of Bowman Consulting Group worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BWMN. BNP Paribas Financial Markets acquired a new stake in Bowman Consulting Group during the 4th quarter worth $42,000. GAMMA Investing LLC raised its stake 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 last quarter. 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. Wells Fargo & Company MN grew its position in Bowman Consulting Group by 55.0% in the 4th quarter. Wells Fargo & Company MN now owns 6,524 shares of the company's stock valued at $163,000 after buying an additional 2,316 shares during the last quarter. Finally, Comerica Bank increased its stake in Bowman Consulting Group by 12.8% in the 4th quarter. Comerica Bank now owns 10,781 shares of the company's stock valued at $269,000 after buying an additional 1,220 shares during the period. 63.20% of the stock is owned by hedge funds and other institutional investors.

Bowman Consulting Group Trading Down 1.2%

Shares of BWMN opened at $27.34 on Tuesday. The firm's 50-day moving average is $24.32 and its two-hundred day moving average is $24.07. The firm has a market capitalization of $471.15 million, a P/E ratio of -34.61 and a beta of 1.26. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16. Bowman Consulting Group Ltd. has a twelve month low of $17.90 and a twelve month high of $36.65.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.21). Bowman Consulting Group had a negative net margin of 2.62% and a positive return on equity of 3.76%.

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

Analyst Upgrades and Downgrades

BWMN has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Bowman Consulting Group from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of Bowman Consulting Group from a "hold" rating to a "buy" rating in a research report on Saturday. Bank of America lowered their price objective on Bowman Consulting Group from $36.50 to $30.50 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, B. Riley raised Bowman Consulting Group to a "strong-buy" rating in a research note on Tuesday, March 18th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $34.17.

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.

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