Bowman Consulting Group (NASDAQ:BWMN) Sees Large Volume Increase – Should You Buy?

Shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) saw unusually-strong trading volume on Tuesday. 404,430 shares traded hands during mid-day trading, an increase of 87% from the previous session’s volume of 216,021 shares. The stock last traded at $42.7550 and had previously closed at $42.80.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BWMN. Texas Capital downgraded Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded Bowman Consulting Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. B. Riley Financial cut Bowman Consulting Group from a “buy” rating to a “hold” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. lowered Bowman Consulting Group from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $40.00 to $43.00 in a research note on Friday, August 21st. Finally, Craig Hallum lowered Bowman Consulting Group from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research note on Tuesday, August 11th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Bowman Consulting Group presently has an average rating of “Reduce” and a consensus target price of $43.00.

Bowman Consulting Group Stock Performance

The company has a 50-day simple moving average of $41.31 and a two-hundred day simple moving average of $34.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $709.23 million, a P/E ratio of 106.86 and a beta of 1.48.

Bowman Consulting Group (NASDAQ:BWMN) last announced its earnings results 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. The firm had revenue of $146.12 million during the quarter, compared to analyst estimates of $129.35 million. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%. As a group, equities analysts forecast that Bowman Consulting Group Ltd. will post 0.75 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gary Bowman sold 37,500 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 780,948 shares of the company’s stock, valued at $33,229,337.40. This represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $42.37, for a total transaction of $37,412.71. Following the completion of the transaction, the director owned 26,330 shares of the company’s stock, valued at approximately $1,115,602.10. The trade was a 3.24% 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. In the last quarter, insiders sold 61,797 shares of company stock valued at $2,615,310. 17.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bowman Consulting Group

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in shares of Bowman Consulting Group by 38,100.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 764 shares of the company’s stock worth $33,000 after purchasing an additional 762 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Bowman Consulting Group in the 2nd quarter worth approximately $42,000. Globeflex Capital L P bought a new position in Bowman Consulting Group during the 2nd quarter valued at approximately $121,000. Fiduciary Financial Advisors bought a new position in Bowman Consulting Group during the 2nd quarter valued at approximately $153,000. Finally, Fifth Third Bancorp purchased a new position in Bowman Consulting Group during the first quarter valued at $196,000. Institutional investors own 63.20% of the company’s stock.

About Bowman Consulting Group

Bowman Consulting Group Ltd. is a professional services firm that provides engineering, planning, surveying and technical consulting services for infrastructure and development projects. The company serves public- and private-sector clients across areas such as transportation, power and utilities, water, real estate, renewable energy, mining and federal programs.

Its services include civil engineering, transportation engineering, environmental consulting, geomatics and surveying, land planning, construction management, landscape architecture and other related project and program management support.