Gary Bowman, the President, CEO, and Chairman of Bowman Consulting Group Ltd. (NASDAQ:BWMN), has recently sold a significant amount of company stock, totaling over $655,000. The transactions occurred on March 26 and 27, according to the latest SEC filings.
On the first day, Bowman sold 6,250 shares at a price of $39.59 each and another 2,500 shares at the same price, amounting to a total of $347,312.50 for the day. The following day, he continued by selling an additional set of 6,250 shares, this time at a lower price of $35.35, and another 2,500 shares at the same reduced price, bringing in an additional $308,412.50.
The sales were executed under a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. This particular plan was adopted on September 15, 2023, and outlines the sale of up to 80,000 shares of Bowman Consulting Group stock owned by Mr. Bowman and up to 40,000 shares owned by Bowman Family Asset Management LLC, a family investment vehicle managed by Bowman.
Following these transactions, Gary Bowman's direct ownership in the company stands at 1,091,930 shares, while the shares owned indirectly through the family LLC total 1,480,103. The sales were part of a systematic plan, and investors often monitor such insider activities to glean insights into executive sentiment about their company's stock.
Bowman Consulting Group Ltd., with its headquarters in Reston, Virginia, offers a range of management consulting services and has been publicly traded since its establishment. The company has not made any official statements regarding the transactions beyond the required SEC disclosures.
InvestingPro Insights
The recent stock sales by Gary Bowman, President, CEO, and Chairman of Bowman Consulting Group Ltd. (NASDAQ:BWMN), have brought the company into the spotlight. While insider sales can often signal a variety of strategic financial decisions, investors and analysts look to other performance indicators to understand the company's current standing and future prospects.
InvestingPro data shows that Bowman Consulting Group Ltd. has a market capitalization of $529.82 million and has experienced a significant revenue growth of 32.3% over the last twelve months as of Q4 2023. This growth is reflected in their impressive gross profit margin of 50.84%, which underscores the company's ability to manage its cost of goods sold effectively. Despite the company's negative operating income of -$1.07 million, analysts have predicted that Bowman will be profitable this year, as highlighted in one of the InvestingPro Tips.
Another tip from InvestingPro suggests that the company operates with a moderate level of debt, which is a critical factor for investors considering the financial health and leverage of a company. This is particularly relevant in light of the CEO's stock sales, as it may indicate confidence in the company's ability to manage its liabilities.
For investors interested in a more in-depth analysis of Bowman Consulting Group Ltd., there are additional InvestingPro Tips available, which could provide further insights into the company's financial metrics and stock performance. For those looking to take advantage of this resource, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 10 more InvestingPro Tips available for Bowman Consulting Group Ltd., which can be accessed at: https://www.investing.com/pro/BWMN
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