Bowman Consulting Group (NASDAQ:BWMN) CEO Sells $1,595,625.00 in Stock

Key Points

• CEO Gary Bowman sold 37,500 shares of Bowman Consulting Group at an average price of $42.55, generating $1.60 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, leaving him with 780,948 shares.
• BWMN shares remained nearly flat at $42.56, with a market capitalization of approximately $737.8 million. The stock is near its one-year high of $45.83 and trades at a high price-to-earnings ratio of 106.4.
• The company exceeded quarterly expectations, reporting $0.62 in EPS versus the $0.47 consensus estimate and revenue of $146.1 million versus $129.4 million expected. However, analysts remain cautious, with an average “Reduce” rating and a $43.00 price target.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) CEO Gary Bowman sold 37,500 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $42.55, for a total value of $1,595,625.00. Following the completion of the sale, the chief executive officer owned 780,948 shares of the company's stock, valued at approximately $33,229,337.40. This represents a 4.58% decrease in their position. The sale was disclosed in a legal 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.

Gary Bowman also recently made the following trade(s):

• On Wednesday, September 23rd, Gary Bowman sold 22,500 shares of Bowman Consulting Group stock. The stock was sold at an average price of $42.55, for a total transaction of $957,375.00.

Bowman Consulting Group Stock Performance

BWMN stock remained flat at $42.56 on Thursday. 182,203 shares of the company traded hands, compared to its average volume of 203,700. The stock has a market capitalization of $737.82 million, a PE ratio of 106.40 and a beta of 1.44. The firm's 50-day simple moving average is $37.05 and its 200 day simple moving average is $32.76. 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 Ltd. has a 1 year low of $25.07 and a 1 year 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.15. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. The company had revenue of $146.12 million for the quarter, compared to the consensus estimate of $129.35 million. As a group, equities analysts forecast that Bowman Consulting Group Ltd. will post 0.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BWMN. B. Riley Financial downgraded Bowman Consulting Group from a "buy" rating to a "hold" rating in a research note on Monday, August 10th. Texas Capital cut shares of Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Roth Capital cut shares of Bowman Consulting Group from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a research note on Wednesday, August 12th. Robert W. Baird set a $43.00 price target on shares of Bowman Consulting Group in a research note on Monday, August 10th. Finally, Wolfe Research set a $43.00 price target on shares of Bowman Consulting Group in a report on Tuesday, August 11th. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Bowman Consulting Group has an average rating of "Reduce" and an average price target of $43.00.

Institutional Investors Weigh In On Bowman Consulting Group

Several institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc acquired a new stake in shares of Bowman Consulting Group in the second quarter valued at about $42,000. Globeflex Capital L P acquired a new stake in shares of Bowman Consulting Group during the 2nd quarter valued at approximately $121,000. Fiduciary Financial Advisors purchased a new stake in shares of Bowman Consulting Group during the 2nd quarter worth approximately $153,000. Fifth Third Bancorp acquired a new stake in shares of Bowman Consulting Group in the 1st quarter worth approximately $196,000. Finally, Quantinno Capital Management LP increased its stake in Bowman Consulting Group by 10.9% in the 1st quarter. Quantinno Capital Management LP now owns 10,584 shares of the company's stock valued at $301,000 after purchasing an additional 1,041 shares in the last quarter. 63.20% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.