Insider Selling: Bowman Consulting Group (NASDAQ:BWMN) CEO Sells 12,500 Shares of Stock

Key Points

• Bowman Consulting Group CEO Gary Bowman sold 12,500 shares of stock for a total of $529,875, reducing his ownership by 1.34% and retaining approximately 919,024 shares valued at $38.96 million.
• Bowman Consulting Group's board has initiated a $25 million share repurchase program, indicating confidence in the company's valuation.
• Analysts have upgraded Bowman Consulting Group, with B. Riley raising their price target from $43 to $55 and several firms giving it a "strong-buy" rating.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) CEO Gary Bowman sold 12,500 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $42.39, for a total transaction of $529,875.00. Following the sale, the chief executive officer owned 919,024 shares of the company's stock, valued at approximately $38,957,427.36. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, September 24th, Gary Bowman sold 7,500 shares of Bowman Consulting Group stock. The shares were sold at an average price of $42.39, for a total value of $317,925.00.

Bowman Consulting Group Stock Performance

Shares of NASDAQ BWMN traded down $0.70 during mid-day trading on Thursday, reaching $41.87. 65,720 shares of the company's stock were exchanged, compared to its average volume of 111,508. The firm has a 50-day moving average price of $38.82 and a two-hundred day moving average price of $29.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $722.26 million, a price-to-earnings ratio of 69.78 and a beta of 1.33. Bowman Consulting Group Ltd. has a 52 week low of $17.90 and a 52 week high of $44.25.

Bowman Consulting Group announced that its board has initiated a share repurchase program on Friday, June 6th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BWMN. B. Riley raised their price objective on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Wall Street Zen upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Zacks Research upgraded shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $38.17.

Hedge Funds Weigh In On Bowman Consulting Group

Several large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Bowman Consulting Group by 244.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company's stock worth $66,000 after purchasing an additional 1,633 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Bowman Consulting Group by 700.8% during the second quarter. BNP Paribas Financial Markets now owns 8,312 shares of the company's stock valued at $239,000 after acquiring an additional 7,274 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in Bowman Consulting Group during the second quarter valued at approximately $217,000. Ameriprise Financial Inc. purchased a new position in Bowman Consulting Group during the second quarter valued at approximately $571,000. Finally, Marshall Wace LLP grew its stake in Bowman Consulting Group by 4.7% during the second quarter. Marshall Wace LLP now owns 152,646 shares of the company's stock valued at $4,389,000 after acquiring an additional 6,814 shares in the last quarter. Hedge funds and other institutional investors own 63.20% 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.

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