Polar Asset Management Partners, recently announced the acquisition of new stake in Bowman Consulting Group Ltd. Common Stock (NASDAQ:BWMN). The institutional investor has increased its shareholding in the Industrials company by 0.29% to 1.32 million shares with purchase of 3811.0 shares. This fresh investment now brings its stake to 9.75% valued currently at $28.8 million. In addition, Pembroke Management Ltd. raised its holdings by 21220.0 to 0.78 million shares. And Wasatch Advisors, Inc. has lifted its position by 8.02% or 56067.0 shares – to 0.76 million shares.
With over 90292.0 Bowman Consulting Group Ltd. Common Stock (BWMN) shares trading Tuesday and a closing price of $24.07 on the day, the dollar volume was approximately $2.17 million. The shares have shown a positive half year performance of 94.27% and its price on 01/24/23 gained nearly 2.69%. Currently, there are 11.30M common shares owned by the public and among those 9.69M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for BWMN have a consensus price objective of $30.00. The analysts have set the share’s price value over the next 12 months at a high of $32.00 and a low of $28.00. The average price target is 19.77% above its recent price level and an upside to the estimated low will see the stock gain 14.04% over that period. But an upside of 24.78% will see the stock hit the forecast high price target while median target price for the stock is $30.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 30,148 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 308,673 shares.
The top 3 mutual fund holders in Bowman Consulting Group Ltd. Common Stock are Wasatch Micro Cap Value Fund, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu. Wasatch Micro Cap Value Fund owns 0.37 million shares of the company’s stock, all valued at over $8.14 million. The company bought an additional 24511.0 shares recently to bring their total holdings to about 2.76% of the shares outstanding. Vanguard Extended Market Index Fu sold 16181.0 shares to bring its total holdings to over 0.13 million shares at a value of $2.76 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.93% of the shares outstanding.
Shares of Bowman Consulting Group Ltd. Common Stock (NASDAQ: BWMN) opened at $23.49, up $0.05 from a prior closing price of $23.44. However, the script later moved the day high at 24.25, up 2.69%. The company’s stock has a 5-day price change of 7.70% and 62.86% over the past three months. BWMN shares are trading 10.16% year to date (YTD), with the 12-month market performance up to 19.87% higher. It has a 12-month low price of $10.76 and touched a high of $23.81 over the same period. BWMN has an average intraday trading volume of 28.20K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.70%, 20.43%, and 48.87% respectively.
Institutional ownership of Bowman Consulting Group Ltd. Common Stock (NASDAQ: BWMN) shares accounts for 40.30% of the company’s 11.30M shares outstanding. Mutual fund holders own 25.31%, while other institutional holders and individual stakeholders account for 36.24% and 13.66% respectively.
It has a market capitalization of $313.87M. The stock’s trailing 12-month PE ratio is 92.58, while the earnings-per-share (ttm) stands at $0.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.23% over the week and 4.14% over the month.
Analysts forecast that Bowman Consulting Group Ltd. Common Stock (BWMN) will achieve an EPS of $0.09 for the current quarter, $0.11 for the next quarter and $0.54 for 2023. The lowest estimate earnings-per-share for the quarter is $0.05 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was $0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -69.60%, and 92.19% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Bowman Consulting Group Ltd. Common Stock (BWMN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BWMN, a number of firms have released research notes about the stock. DA Davidson stated their Buy rating for the stock in a research note on June 01, 2021, with the firm’s price target at $18. B. Riley Securities coverage for the Bowman Consulting Group Ltd. Common Stock (BWMN) stock in a research note released on June 01, 2021 offered a Buy rating with a price target of $19.
