Insider Selling: Bowman Consulting Group (NASDAQ:BWMN) Director Sells 3,000 Shares of Stock

Key Points

• Director Sale: Bowman Consulting Group's Director Stephen Riddick sold 3,000 shares at an average price of $41.04, totaling $123,120, resulting in a 13.98% reduction of his shareholding.
• Stock Buyback Plan: The company has approved a stock buyback plan of $25 million, indicating management's belief that the shares are undervalued.
• Analyst Ratings: Analysts have upgraded Bowman Consulting Group to "strong-buy," with B. Riley raising the price target from $43 to $55.

Bowman Consulting Group Ltd. (NASDAQ:BWMN - Get Free Report) Director Stephen Riddick sold 3,000 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $41.04, for a total transaction of $123,120.00. Following the transaction, the director directly owned 18,461 shares in the company, valued at approximately $757,639.44. The trade was a 13.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Bowman Consulting Group Price Performance

Bowman Consulting Group stock traded down $0.70 during trading hours on Tuesday, hitting $40.66. 127,883 shares of the company traded hands, compared to its average volume of 109,627. The firm has a market cap of $701.39 million, a P/E ratio of 67.77 and a beta of 1.33. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $35.95 and its two-hundred day simple moving average is $28.04. Bowman Consulting Group Ltd. has a 1-year low of $17.90 and a 1-year high of $43.21.

Bowman Consulting Group declared that its board has approved a stock buyback plan on Friday, June 6th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BWMN shares. Zacks Research raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. B. Riley lifted their price objective on shares of Bowman Consulting Group from $43.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Finally, Wall Street Zen raised shares of Bowman Consulting Group from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $38.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. grew its position in Bowman Consulting Group by 28.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company's stock valued at $41,000 after purchasing an additional 317 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Bowman Consulting Group in the fourth quarter valued at approximately $42,000. Brooklyn Investment Group acquired a new stake in Bowman Consulting Group in the first quarter valued at approximately $45,000. Tower Research Capital LLC TRC lifted its stake in 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 valued at $66,000 after acquiring an additional 1,633 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Bowman Consulting Group by 1,856.3% in the first quarter. GAMMA Investing LLC now owns 4,519 shares of the company's stock valued at $99,000 after acquiring an additional 4,288 shares during the last quarter. 63.20% of the stock is owned by hedge funds and other institutional investors.

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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