Investors tracking insider activity at Bowman Consulting Group Ltd. (NASDAQ:BWMN) might have noted a recent transaction by the company's Chief Legal Officer, Robert Alan Hickey. According to a new filing with the Securities and Exchange Commission, Hickey sold 8,000 shares of Bowman Consulting's common stock, netting a total of $311,480.
The transaction, which took place on March 18, 2024, saw the shares sold at a price of $38.935 each. Following this sale, Hickey still retains 214,403 shares of the company, indicating a continued stake in Bowman Consulting's future.
The filing disclosed that the sale was conducted under a pre-arranged 10b5-1 trading plan. Such plans are often set up by corporate insiders to sell a predetermined number of shares at a predetermined time to avoid accusations of insider trading. Hickey's plan, adopted on June 16, 2023, allows for the sale of up to 24,000 shares from September 2023 through May 2024.
The sale by Bowman Consulting's Chief Legal Officer is a transaction that shareholders and potential investors may want to consider as they evaluate their positions in the company. It's worth noting that transactions of this nature are not uncommon and can be influenced by a variety of personal financial needs or portfolio diversification strategies.
Bowman Consulting Group Ltd. specializes in management consulting services and is headquartered in Reston, Virginia. The company's stock trades on the NASDAQ under the ticker symbol BWMN.
InvestingPro Insights
As investors digest the recent insider sale at Bowman Consulting Group Ltd. (NASDAQ:BWMN), it's imperative to look beyond the transaction to the company's financial health and market performance. The InvestingPro platform provides several metrics and tips that can offer a broader perspective.
One of the key InvestingPro Tips for Bowman Consulting is the company's expected net income growth this year. This could signal confidence in the company's ability to increase profitability, which may be a positive indicator for investors. Additionally, Bowman Consulting operates with a moderate level of debt, which suggests a balanced approach to leveraging and financial risk management.
Looking at the InvestingPro Data, Bowman Consulting's market capitalization stands at 634.45 million USD, reflecting its current market valuation. Despite a negative P/E ratio of -77.74, the company's gross profit margin is impressive at 50.84%, indicating a strong ability to retain earnings from sales after the cost of goods sold is accounted for. Moreover, the company has experienced notable revenue growth over the last twelve months, with a 32.3% increase, underscoring its expanding business operations.
Investors should also note that Bowman Consulting is trading near its 52-week high, with the price at 93.61% of this peak. This could be seen as a testament to the company's strong market performance over the past year, which aligns with the robust return of 51.78% over the same period.
For those looking to delve deeper into Bowman Consulting's financials and market predictions, there are additional InvestingPro Tips available on the platform. To assist in making more informed decisions, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With this subscription, investors can access a comprehensive list of tips, including analysts' profitability predictions for the company this year and insights into recent earnings revisions.
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