Polar Asset Management Partners Inc. Takes $7.21 Million Position in Bowman Consulting Group Ltd. $BWMN

Polar Asset Management Partners Inc. bought a new stake in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 246,917 shares of the company’s stock, valued at approximately $7,210,000.

Other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System bought a new stake in Bowman Consulting Group during the fourth quarter valued at about $42,000. Legal & General Group Plc bought a new position in shares of Bowman Consulting Group in the second quarter worth about $42,000. Tower Research Capital LLC TRC grew its position in shares of Bowman Consulting Group by 244.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,301 shares of the company’s stock worth $66,000 after purchasing an additional 1,633 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of Bowman Consulting Group during the second quarter worth about $121,000. Finally, NewEdge Advisors LLC raised its stake in Bowman Consulting Group by 478,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 4,781 shares of the company’s stock valued at $203,000 after purchasing an additional 4,780 shares during the period. Institutional investors own 63.20% of the company’s stock.

Bowman Consulting Group Price Performance

Shares of BWMN opened at $42.53 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $737.47 million, a price-to-earnings ratio of 106.33 and a beta of 1.36. Bowman Consulting Group Ltd. has a 1 year low of $25.07 and a 1 year high of $45.83. The business’s 50 day simple moving average is $31.31 and its 200-day simple moving average is $31.42.

Bowman Consulting Group (NASDAQ:BWMN) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.15. The company had revenue of $146.13 million for the quarter, compared to analysts’ expectations of $129.35 million. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. As a group, equities analysts expect that Bowman Consulting Group Ltd. will post 0.75 earnings per share for the current fiscal year.

Insider Activity at Bowman Consulting Group

In other Bowman Consulting Group news, Director Patricia Mulroy sold 883 shares of Bowman Consulting Group stock in a transaction 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 completion of the transaction, the director directly owned 26,330 shares of the company’s stock, valued at $1,115,602.10. This trade represents a 3.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. B. Riley Financial cut Bowman Consulting Group from a “buy” rating to a “hold” rating in a report on Monday, August 10th. Capital One Financial set a $43.00 price objective on shares of Bowman Consulting Group in a report on Tuesday, August 11th. Weiss Ratings raised shares of Bowman Consulting Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. JPMorgan Chase & Co. cut shares of 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. Finally, Robert W. Baird set a $43.00 price target on shares of Bowman Consulting Group in a report on Monday, August 10th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Bowman Consulting Group has an average rating of “Reduce” and a consensus price target of $44.71.

About Bowman Consulting Group

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.