Squarepoint Ops LLC Increases Position in Bowman Consulting Group Ltd. $BWMN

Key Points

• Institutional ownership increased: Squarepoint Ops more than doubled its Bowman Consulting stake to 78,687 shares, while BlackRock initiated a position and Wellington Management raised its holdings by 215.2%. Hedge funds and institutions now own 63.2% of the stock.
• Analyst sentiment weakened: Several brokerages downgraded Bowman to Hold or Neutral, giving the company a consensus “Reduce” rating and a $43 target price.
• Quarterly results beat estimates: Bowman reported $0.62 in adjusted EPS on $146.12 million in revenue, exceeding forecasts of $0.47 EPS and $129.35 million in revenue. Shares opened at $42.43, near the consensus target.

Squarepoint Ops LLC grew its holdings in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 110.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 78,687 shares of the company's stock after buying an additional 41,315 shares during the quarter. Squarepoint Ops LLC owned 0.45% of Bowman Consulting Group worth $2,298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Bowman Consulting Group during the 2nd quarter worth approximately $31,113,000. 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in Bowman Consulting Group by 13.1% in 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. increased its stake in Bowman Consulting Group by 12.3% in 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. Finally, Wellington Management Group LLP lifted its position in shares of Bowman Consulting Group by 215.2% during the second quarter. Wellington Management Group LLP now owns 184,736 shares of the company's stock worth $5,394,000 after purchasing an additional 126,136 shares during the last quarter. 63.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bowman Consulting Group

In other Bowman Consulting Group news, Director Patricia Mulroy sold 883 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the completion of the transaction, the director directly owned 26,330 shares in the company, valued at approximately $1,115,602.10. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BWMN. Craig Hallum lowered shares of Bowman Consulting Group from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a research note on Tuesday, August 11th. Roth Capital downgraded shares of Bowman Consulting Group from a "buy" rating to a "neutral" rating and set a $43.00 price target on the stock. in a research note on Wednesday, August 12th. Capital One Financial set a $43.00 price target on shares of Bowman Consulting Group in a research note on Tuesday, August 11th. Wolfe Research set a $43.00 price objective on shares of Bowman Consulting Group in a report on Tuesday, August 11th. Finally, Texas Capital cut shares of Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Seven investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Bowman Consulting Group presently has a consensus rating of "Reduce" and a consensus target price of $43.00.

Bowman Consulting Group Stock Up 0.0%

Shares of NASDAQ BWMN opened at $42.43 on Tuesday. Bowman Consulting Group Ltd. has a 12-month low of $25.07 and a 12-month high of $45.83. The stock's fifty day simple moving average is $34.96 and its two-hundred day simple moving average is $32.28. The stock has a market capitalization of $735.74 million, a PE ratio of 106.07 and a beta of 1.44. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.

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

About Bowman Consulting Group

Bowman Consulting Group Ltd. is an engineering services firm that provides infrastructure-related consulting and technical services to public- and private-sector clients. The company supports projects across transportation, water, power and utilities, renewable energy, commercial and residential real estate, and other infrastructure markets.

Its services include civil engineering, surveying and geomatics, environmental consulting, land planning, landscape architecture, right-of-way services, construction management and inspection, and program and project management.

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