Bowman Consulting Group (NASDAQ:BWMN) Sees Unusually-High Trading Volume – Still a Buy?

Bowman Consulting Group Ltd. (NASDAQ:BWMN) saw an uptick in trading volume on Wednesday. Approximately 528,233 shares traded hands during trading, an increase of 135% from the average daily volume of 224,471 shares. The stock last traded at $42.9450 and had previously closed at $42.96.

Wall Street Analyst Weigh In

BWMN has been the topic of a number of recent analyst reports. Wolfe Research set a $43.00 price objective on shares of Bowman Consulting Group in a report on Tuesday, August 11th. Wall Street Zen upgraded Bowman Consulting Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. downgraded Bowman Consulting Group from a “neutral” rating to an “underweight” rating and raised their target price for the company from $40.00 to $43.00 in a research note on Friday, August 21st. Robert W. Baird set a $43.00 target price on Bowman Consulting Group in a research report on Monday, August 10th. Finally, Roth Capital cut Bowman Consulting Group from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Wednesday, August 12th. Seven investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $43.00.

Bowman Consulting Group Stock Down 0.0%

The stock has a market capitalization of $713.37 million, a P/E ratio of 107.49 and a beta of 1.47. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $42.68 and its 200 day simple moving average is $34.51.

Bowman Consulting Group (NASDAQ:BWMN) last released its earnings results on Friday, November 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.62). The company had revenue of $148.70 million during the quarter, compared to the consensus estimate of $137.54 million. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%. As a group, research analysts predict that Bowman Consulting Group Ltd. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gary Bowman sold 37,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $42.55, for a total transaction of $1,595,625.00. Following the sale, the chief executive officer directly owned 780,948 shares of the company’s stock, valued at approximately $33,229,337.40. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the sale, the director directly owned 26,330 shares in the company, valued at approximately $1,115,602.10. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 60,883 shares of company stock worth $2,590,413. 17.50% of the stock is currently owned by company insiders.

Institutional Trading of Bowman Consulting Group

Several institutional investors have recently added to or reduced their stakes in BWMN. Farther Finance Advisors LLC lifted its position in Bowman Consulting Group by 38,100.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 764 shares of the company’s stock valued at $33,000 after purchasing an additional 762 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Bowman Consulting Group during the 3rd quarter valued at about $34,000. Parallel Advisors LLC grew its position in Bowman Consulting Group by 433.0% in the 3rd quarter. Parallel Advisors LLC now owns 954 shares of the company’s stock worth $41,000 after purchasing an additional 775 shares during the last quarter. Legal & General Group Plc bought a new position in Bowman Consulting Group in the 2nd quarter worth about $42,000. Finally, Globeflex Capital L P bought a new position in Bowman Consulting Group in the 2nd quarter worth about $121,000. Institutional investors own 63.20% of the company’s stock.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. (NASDAQ: BWMN) is an engineering services firm that provides infrastructure, planning, surveying, and consulting solutions to public- and private-sector clients. The company supports projects throughout their development and construction life cycles, serving markets such as transportation, power and utilities, commercial and residential real estate, and public infrastructure.

Its services include civil engineering, land surveying, geomatics, environmental consulting, landscape architecture, construction management, right-of-way services, and utility engineering.