Acorn Financial Advisory Services Inc. ADV Purchases New Stake in Bowman Consulting Group Ltd. (NASDAQ:BWMN)

Acorn Financial Advisory Services Inc. ADV acquired a new position in Bowman Consulting Group Ltd. (NASDAQ:BWMN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,027 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds also recently added to or reduced their stakes in BWMN. Point72 Asset Management L.P. acquired a new position in Bowman Consulting Group during the second quarter worth about $96,000. Norden Group LLC acquired a new stake in Bowman Consulting Group in the 1st quarter worth approximately $207,000. Virtu Financial LLC acquired a new position in shares of Bowman Consulting Group during the first quarter worth approximately $226,000. Comerica Bank increased 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 valued at $269,000 after purchasing an additional 1,190 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Bowman Consulting Group by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,425 shares of the company’s stock valued at $294,000 after acquiring an additional 393 shares during the period. 63.20% of the stock is currently owned by institutional investors.

Bowman Consulting Group Trading Up 6.4 %

Shares of NASDAQ:BWMN traded up $1.50 during midday trading on Friday, reaching $25.04. The company’s stock had a trading volume of 110,092 shares, compared to its average volume of 96,082. The firm has a 50 day moving average price of $22.64 and a two-hundred day moving average price of $27.88. The firm has a market capitalization of $455.73 million, a price-to-earnings ratio of -33.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.26 and a current ratio of 1.26. Bowman Consulting Group Ltd. has a fifty-two week low of $19.92 and a fifty-two week high of $42.90.

Bowman Consulting Group (NASDAQ:BWMN) last released its earnings results 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). Bowman Consulting Group had a positive return on equity of 4.40% and a negative net margin of 2.67%. The firm had revenue of $104.50 million during the quarter, compared to analysts’ expectations of $113.01 million. As a group, analysts forecast that Bowman Consulting Group Ltd. will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BWMN has been the topic of several research reports. Robert W. Baird cut their price target on Bowman Consulting Group from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday. Roth Mkm decreased their price target on Bowman Consulting Group from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $39.70.

Insider Transactions at Bowman Consulting Group

In other news, insider Robert Alan Hickey sold 1,444 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $22.09, for a total value of $31,897.96. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Bowman Consulting Group news, insider Robert Alan Hickey sold 1,444 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $22.09, for a total transaction of $31,897.96. Following the sale, the insider now owns 196,888 shares in the company, valued at $4,349,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gary Bowman sold 4,002 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $24.08, for a total value of $96,368.16. Following the sale, the chief executive officer now owns 919,500 shares in the company, valued at $22,141,560. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,402 shares of company stock valued at $242,343 over the last three months. Company insiders own 20.40% of the company’s stock.

About Bowman Consulting Group

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.