Ellsworth Advisors LLC Buys New Shares in Bowman Consulting Group Ltd. $BWMN

Ellsworth Advisors LLC bought a new position in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) during the third quarter, HoldingsChannel reports. The firm bought 18,316 shares of the company’s stock, valued at approximately $808,000.

Several other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its position in shares of Bowman Consulting Group by 28.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,435 shares of the company’s stock worth $41,000 after acquiring an additional 317 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of 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 purchasing an additional 1,633 shares in the last quarter. AlphaQuest LLC bought a new position in Bowman Consulting Group in the second quarter worth $103,000. Emerald Advisers LLC boosted its stake in Bowman Consulting Group by 105.9% during the second quarter. Emerald Advisers LLC now owns 6,333 shares of the company’s stock worth $182,000 after buying an additional 3,257 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in Bowman Consulting Group in the 2nd quarter valued at $217,000. Institutional investors and hedge funds own 63.20% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gary Bowman sold 12,500 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $35.25, for a total transaction of $440,625.00. Following the transaction, the chief executive officer owned 892,443 shares in the company, valued at $31,458,615.75. This represents a 1.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bruce J. Labovitz sold 10,000 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $42.37, for a total transaction of $423,700.00. Following the sale, the chief financial officer directly owned 385,560 shares in the company, valued at approximately $16,336,177.20. This represents a 2.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 50,000 shares of company stock worth $1,974,100. Insiders own 17.42% of the company’s stock.

Bowman Consulting Group Price Performance

Shares of Bowman Consulting Group stock opened at $34.60 on Friday. The stock has a market capitalization of $601.00 million, a price-to-earnings ratio of 37.20, a P/E/G ratio of 2.13 and a beta of 1.32. The firm’s 50-day moving average price is $36.88 and its two-hundred day moving average price is $36.68. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14. Bowman Consulting Group Ltd. has a 1-year low of $17.90 and a 1-year high of $45.83.

Bowman Consulting Group (NASDAQ:BWMN) last posted its earnings results on Wednesday, November 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.23. The company had revenue of $112.09 million during the quarter, compared to analysts’ expectations of $130.45 million. Bowman Consulting Group had a net margin of 3.33% and a return on equity of 6.30%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bowman Consulting Group in a report on Monday. Zacks Research cut shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. B. Riley lifted their price objective on Bowman Consulting Group from $43.00 to $55.00 and gave the company a “buy” rating in a report on Friday, August 29th. Wall Street Zen cut Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. Finally, Roth Capital raised their target price on Bowman Consulting Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Bowman Consulting Group has an average rating of “Moderate Buy” and an average price target of $41.13.

Bowman Consulting Group 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.