Millrace Asset Group Inc. Has $494,000 Position in Bowman Consulting Group Ltd. (NASDAQ:BWMN)

Millrace Asset Group Inc. lessened its holdings in Bowman Consulting Group Ltd. (NASDAQ:BWMN) by 73.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 20,533 shares of the company’s stock after selling 58,245 shares during the quarter. Millrace Asset Group Inc.’s holdings in Bowman Consulting Group were worth $494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its stake in Bowman Consulting Group by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,425 shares of the company’s stock worth $294,000 after acquiring an additional 393 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Bowman Consulting Group by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 38,708 shares of the company’s stock worth $932,000 after purchasing an additional 913 shares in the last quarter. Comerica Bank lifted its position in shares of Bowman Consulting Group by 18.2% in the first quarter. Comerica Bank now owns 7,745 shares of the company’s stock worth $269,000 after purchasing an additional 1,190 shares in the last quarter. Boston Partners grew its position in Bowman Consulting Group by 27.5% during the first quarter. Boston Partners now owns 8,695 shares of the company’s stock valued at $302,000 after purchasing an additional 1,876 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Bowman Consulting Group by 115.6% during the third quarter. Quantbot Technologies LP now owns 3,893 shares of the company’s stock valued at $94,000 after purchasing an additional 2,087 shares in the last quarter. Institutional investors and hedge funds own 63.20% of the company’s stock.

Analyst Upgrades and Downgrades

BWMN has been the subject of a number of research analyst reports. Robert W. Baird cut their target price on shares of Bowman Consulting Group from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Roth Mkm cut their price objective on Bowman Consulting Group from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $39.70.

Insider Buying and Selling

In other news, CEO Gary Bowman sold 4,002 shares of Bowman Consulting Group stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $24.08, for a total value of $96,368.16. Following the transaction, the chief executive officer now owns 919,500 shares of the company’s stock, valued at $22,141,560. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Alan Hickey sold 1,444 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $22.09, for a total transaction of $31,897.96. Following the completion of the sale, the insider now owns 196,888 shares of the company’s stock, valued at $4,349,255.92. The trade was a 0.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,202 shares of company stock worth $168,400. Corporate insiders own 20.40% of the company’s stock.

Bowman Consulting Group Stock Performance

BWMN stock opened at $26.67 on Tuesday. The firm has a 50 day moving average of $23.24 and a two-hundred day moving average of $27.36. Bowman Consulting Group Ltd. has a 12 month low of $19.92 and a 12 month high of $42.90. The company has a market capitalization of $467.53 million, a price-to-earnings ratio of -33.76 and a beta of 1.12. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.16.

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.