Millrace Asset Group Inc. Buys Shares of 160,061 Bowman Consulting Group Ltd. (NASDAQ:BWMN)

Millrace Asset Group Inc. purchased a new stake in shares of Bowman Consulting Group Ltd. (NASDAQ:BWMN) in the second quarter, Holdings Channel.com reports. The firm purchased 160,061 shares of the company’s stock, valued at approximately $2,217,000.

Separately, Russell Investments Group Ltd. purchased a new position in Bowman Consulting Group in the second quarter worth $807,000. Hedge funds and other institutional investors own 30.06% of the company’s stock.

Several equities analysts have recently commented on the stock. B. Riley started coverage on shares of Bowman Consulting Group in a research note on Tuesday, June 1st. They set a “buy” rating and a $19.00 price objective for the company. DA Davidson assumed coverage on shares of Bowman Consulting Group in a report on Tuesday, June 1st. They set a “buy” rating and a $18.00 price target on the stock. Finally, Zacks Investment Research cut shares of Bowman Consulting Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 18th.

Shares of BWMN stock traded down $0.25 during trading hours on Tuesday, reaching $13.25. 14,737 shares of the stock were exchanged, compared to its average volume of 24,675. Bowman Consulting Group Ltd. has a 12-month low of $12.60 and a 12-month high of $14.90. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average is $13.46.

Bowman Consulting Group (NASDAQ:BWMN) last posted its quarterly earnings results on Tuesday, August 10th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.07 by $0.07. The business had revenue of $36.52 million during the quarter, compared to the consensus estimate of $38.00 million. Sell-side analysts forecast that Bowman Consulting Group Ltd. will post -0.12 EPS for the current year.

About Bowman Consulting Group

Bowman Consulting Group Ltd., a consulting company, 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.

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Institutional Ownership by Quarter for Bowman Consulting Group (NASDAQ:BWMN)

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