Summit Creek Advisors LLC Invests $6.43 Million in Bowman Consulting Group Ltd. $BWMN

Key Points

• Summit Creek Advisors acquired 220,254 shares of Bowman Consulting Group worth approximately $6.43 million, representing 1.26% of the company and 2.2% of the fund’s portfolio.
• Institutional ownership stands at 63.2%, with BlackRock making a new investment of roughly $31.1 million and other funds also increasing or initiating positions. A company director separately sold 883 shares for about $37,413 under a Rule 10b5-1 plan.
• Bowman exceeded quarterly expectations, reporting $0.62 in EPS versus the $0.47 consensus and revenue of $146.13 million versus $129.35 million expected. Despite the results, analysts maintain a consensus “Hold” rating with an average price target of $44.29.

Summit Creek Advisors LLC acquired a new stake in Bowman Consulting Group Ltd. (NASDAQ:BWMN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 220,254 shares of the company's stock, valued at approximately $6,431,000. Bowman Consulting Group accounts for 2.2% of Summit Creek Advisors LLC's investment portfolio, making the stock its 16th biggest holding. Summit Creek Advisors LLC owned about 1.26% of Bowman Consulting Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BWMN. BlackRock Inc. bought a new stake in Bowman Consulting Group in the second quarter worth approximately $31,113,000. Deutsche Bank AG bought a new position in Bowman Consulting Group during the second quarter worth $421,000. Bank of New York Mellon Corp bought a new position in Bowman Consulting Group during the second quarter worth $1,187,000. Quantinno Capital Management LP grew its holdings in Bowman Consulting Group by 10.9% in the first quarter. Quantinno Capital Management LP now owns 10,584 shares of the company's stock worth $301,000 after purchasing an additional 1,041 shares during the period. Finally, Polar Asset Management Partners Inc. grew its holdings 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. Institutional investors own 63.20% of the company's stock.

Insider Buying and Selling

In related news, Director Patricia Mulroy sold 883 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $42.37, for a total value of $37,412.71. Following the completion of the sale, the director directly owned 26,330 shares of the company's stock, valued at approximately $1,115,602.10. This represents a 3.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.50% of the company's stock.

Bowman Consulting Group Price Performance

BWMN stock opened at $42.53 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. The business has a 50-day simple moving average of $30.18 and a two-hundred day simple moving average of $31.13. The company has a market capitalization of $737.30 million, a P/E ratio of 106.33 and a beta of 1.36. Bowman Consulting Group Ltd. has a 52-week low of $25.07 and a 52-week high of $45.83.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.47 by $0.15. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%.The firm had revenue of $146.13 million during the quarter, compared to the consensus estimate of $129.35 million. Research analysts expect that Bowman Consulting Group Ltd. will post 0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BWMN has been the topic of a number of research reports. Capital One Financial set a $43.00 price target on Bowman Consulting Group in a research note on Tuesday, August 11th. Roth Capital downgraded Bowman Consulting Group from a "buy" rating to a "neutral" rating and set a $43.00 price objective for the company. in a report on Wednesday, August 12th. Robert W. Baird set a $43.00 target price on Bowman Consulting Group in a research report on Monday, August 10th. Wolfe Research set a $43.00 target price on Bowman Consulting Group in a report on Tuesday, August 11th. Finally, B. Riley Financial downgraded shares of Bowman Consulting Group from a "buy" rating to a "hold" rating in a research report on Monday, August 10th. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Bowman Consulting Group presently has a consensus rating of "Hold" and an average price target of $44.29.

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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