Bowman Consulting Group (NASDAQ:BWMN) Shares Gap Down – Here’s What Happened

Bowman Consulting Group Ltd. (NASDAQ:BWMN)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $32.88, but opened at $31.30. Bowman Consulting Group shares last traded at $31.28, with a volume of 10,993 shares trading hands.

Analysts Set New Price Targets

BWMN has been the subject of a number of research analyst reports. Roth Mkm set a $58.00 price target on Bowman Consulting Group and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen lowered shares of Bowman Consulting Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. upped their target price on shares of Bowman Consulting Group from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Zacks Research lowered shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Robert W. Baird dropped their price target on shares of Bowman Consulting Group from $43.00 to $37.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.50.

Bowman Consulting Group Stock Down 2.8%

The business’s fifty day moving average is $30.55 and its two-hundred day moving average is $33.34. The stock has a market cap of $536.68 million, a price-to-earnings ratio of 51.08, a PEG ratio of 4.19 and a beta of 1.36. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.22.

Bowman Consulting Group (NASDAQ:BWMN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.07). The business had revenue of $126.48 million during the quarter, compared to analysts’ expectations of $114.49 million. Bowman Consulting Group had a net margin of 2.02% and a return on equity of 3.98%. Equities analysts forecast that Bowman Consulting Group Ltd. will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Bowman Consulting Group

In related news, CEO Gary Bowman sold 7,500 shares of Bowman Consulting Group stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $30.71, for a total value of $230,325.00. Following the completion of the transaction, the chief executive officer directly owned 1,353,338 shares in the company, valued at approximately $41,561,009.98. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Raymond Jr. Vicks sold 1,230 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $33.34, for a total value of $41,008.20. Following the transaction, the director directly owned 18,143 shares of the company’s stock, valued at $604,887.62. The trade was a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,230 shares of company stock worth $655,208. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Bowman Consulting Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Bowman Consulting Group by 1.7% in the third quarter. Vanguard Group Inc. now owns 802,969 shares of the company’s stock valued at $34,014,000 after acquiring an additional 13,366 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Bowman Consulting Group by 3,560.2% during the 3rd quarter. Alliancebernstein L.P. now owns 524,867 shares of the company’s stock worth $22,233,000 after acquiring an additional 510,527 shares in the last quarter. Summit Creek Advisors LLC grew its holdings in Bowman Consulting Group by 10.1% during the 4th quarter. Summit Creek Advisors LLC now owns 399,094 shares of the company’s stock worth $13,178,000 after acquiring an additional 36,645 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Bowman Consulting Group by 13.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 377,799 shares of the company’s stock valued at $10,744,000 after purchasing an additional 43,624 shares during the last quarter. Finally, Polar Asset Management Partners Inc. increased its position in shares of Bowman Consulting Group by 12.3% in the 1st quarter. Polar Asset Management Partners Inc. now owns 320,000 shares of the company’s stock valued at $9,101,000 after purchasing an additional 34,976 shares during the last quarter. 63.20% of the stock is owned by institutional investors and hedge funds.

Bowman Consulting Group Company 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.