Bowman Consulting Group Ltd. (NASDAQ:BWMN) Shares Bought by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors LLC has increased its holding in Bowman Consulting Group Ltd. by 9.3% during the 1st quarter, bringing its total position to approximately $8.91 million.
• Bowman Consulting Group reported a quarterly loss of ($0.11) earnings per share, missing the consensus estimate, while also announcing a stock repurchase plan of $25 million.
• An analyst downgrade from "buy" to "hold" has been noted, while another analyst increased the price target for Bowman Consulting from $33 to $43, indicating mixed market sentiment on the stock.

Summit Creek Advisors LLC raised its position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) by 9.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 408,042 shares of the company's stock after acquiring an additional 34,599 shares during the quarter. Summit Creek Advisors LLC owned about 2.36% of Bowman Consulting Group worth $8,908,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BWMN. BNP Paribas Financial Markets acquired a new stake in Bowman Consulting Group in the fourth quarter worth $42,000. GAMMA Investing LLC raised its position 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. NBC Securities Inc. lifted its holdings in shares of Bowman Consulting Group by 100,080.0% in the 1st quarter. NBC Securities Inc. now owns 5,009 shares of the company's stock worth $109,000 after purchasing an additional 5,004 shares in the last quarter. 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 purchasing an additional 2,316 shares during the period. Finally, Comerica Bank increased its stake in Bowman Consulting Group by 12.8% during the 4th quarter. Comerica Bank now owns 10,781 shares of the company's stock valued at $269,000 after purchasing an additional 1,220 shares in the last quarter. 63.20% of the stock is currently owned by institutional investors and hedge funds.

Bowman Consulting Group Stock Down 0.8%

Bowman Consulting Group stock traded down $0.28 during trading hours on Thursday, hitting $34.42. 41,117 shares of the stock traded hands, compared to its average volume of 100,333. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.15. The company has a market cap of $592.97 million, a PE ratio of 265.91, a PEG ratio of 4.97 and a beta of 1.29. The firm's 50-day moving average price is $29.02 and its two-hundred day moving average price is $25.13. Bowman Consulting Group Ltd. has a one year low of $17.90 and a one year high of $37.34.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its 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 return on equity of 2.74% and a net margin of 0.54%.

Bowman Consulting Group declared that its Board of Directors has initiated a stock repurchase program on Friday, June 6th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on BWMN shares. B. Riley boosted their price objective on Bowman Consulting Group from $33.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Robert W. Baird upped their price objective on Bowman Consulting Group from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen downgraded Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.38.

Insider Buying and Selling at Bowman Consulting Group

In other news, insider Robert Alan Hickey sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $26.70, for a total value of $133,500.00. Following the completion of the sale, the insider owned 176,685 shares in the company, valued at approximately $4,717,489.50. This trade represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,024 shares of company stock valued at $162,514 over the last ninety days. Company insiders own 17.42% of the company's stock.

About Bowman Consulting Group

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.