Bowman Consulting Group Ltd. (NASDAQ:BWMN) Sees Significant Drop in Short Interest

Bowman Consulting Group Ltd. (NASDAQ:BWMN) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 514,200 shares, a decrease of 5.6% from the September 30th total of 544,600 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 110,300 shares, the short-interest ratio is currently 4.7 days.

Bowman Consulting Group Price Performance

NASDAQ BWMN opened at $21.58 on Friday. The business’s fifty day moving average is $22.75 and its 200 day moving average is $28.13. Bowman Consulting Group has a fifty-two week low of $19.92 and a fifty-two week high of $42.90. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $392.76 million, a PE ratio of -28.77 and a beta of 1.09.

Bowman Consulting Group (NASDAQ:BWMN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). The company had revenue of $104.50 million for the quarter, compared to the consensus estimate of $113.01 million. Bowman Consulting Group had a negative net margin of 2.67% and a positive return on equity of 4.40%. Sell-side analysts predict that Bowman Consulting Group will post -0.36 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Roth Mkm lowered their price target on Bowman Consulting Group from $47.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Robert W. Baird lowered their target price on Bowman Consulting Group from $37.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $40.10.

Insider Transactions at Bowman Consulting Group

In related news, insider Robert Alan Hickey sold 1,444 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $22.09, for a total transaction of $31,897.96. Following the completion of the sale, the insider now owns 196,888 shares of the company’s stock, valued at $4,349,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gary Bowman sold 4,002 shares of Bowman Consulting Group stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $24.08, for a total value of $96,368.16. Following the completion of the sale, the chief executive officer now directly owns 919,500 shares in the company, valued at $22,141,560. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Alan Hickey sold 1,444 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $22.09, for a total transaction of $31,897.96. Following the transaction, the insider now directly owns 196,888 shares of the company’s stock, valued at $4,349,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,346 shares of company stock worth $375,487. Corporate insiders own 20.40% of the company’s stock.

Institutional Trading of Bowman Consulting Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Bowman Consulting Group by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,425 shares of the company’s stock worth $294,000 after buying an additional 393 shares in the last quarter. Comerica Bank grew its position in shares of Bowman Consulting Group by 18.2% during the first quarter. Comerica Bank now owns 7,745 shares of the company’s stock worth $269,000 after purchasing an additional 1,190 shares in the last quarter. Boston Partners raised its stake in Bowman Consulting Group by 27.5% during the 1st quarter. Boston Partners now owns 8,695 shares of the company’s stock valued at $302,000 after purchasing an additional 1,876 shares during the period. Point72 Asset Management L.P. purchased a new position in Bowman Consulting Group in the 2nd quarter worth approximately $96,000. Finally, Kennedy Capital Management LLC boosted its stake in Bowman Consulting Group by 6.3% in the 1st quarter. Kennedy Capital Management LLC now owns 53,282 shares of the company’s stock worth $1,854,000 after purchasing an additional 3,138 shares during the period. 63.20% of the stock is owned by hedge funds and other institutional investors.

Bowman Consulting Group Company Profile

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.