Gary Bowman, the President, CEO, and Chairman of Bowman Consulting Group Ltd. (NASDAQ:BWMN), has completed the sale of company stock valued at approximately $398,500. The transactions occurred on two separate days, with shares sold at prices ranging between $31.72 and $32.04.
On April 24 and 25, Bowman sold a total of 12,500 shares of Bowman Consulting Group Ltd. The stock was disposed of in two equal tranches of 3,750 shares each day at the prices of $31.72 and $32.04 respectively. Another set of 2,500 shares were sold on each day at the same price points.
The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a predetermined time. According to the plan, Gary Bowman is allowed to sell up to 80,000 shares of company common stock from December 2023 through October 2024. Additionally, the plan covers the sale of up to 40,000 shares owned by Bowman Family Asset Management LLC, a vehicle for managing the investments of Mr. Bowman and his family, for which Mr. Bowman serves as manager.
Following these transactions, Gary Bowman's direct holdings in Bowman Consulting Group Ltd. have been adjusted to 973,475 shares. Additionally, indirect holdings through the Family LLC have been updated to 1,413,338 shares post-sale.
Investors and market watchers often pay close attention to insider sales as they provide insights into executives' perspectives on their company's stock value. The disclosed sales are part of a planned strategy and provide a window into how company insiders are managing their stock holdings.
InvestingPro Insights
Gary Bowman's recent stock sales coincide with a period of significant financial metrics and projections for Bowman Consulting Group Ltd. According to InvestingPro data, the company's market capitalization stands at a robust $557.37 million, with a notable revenue growth of 32.3% over the last twelve months as of Q4 2023. This growth is underpinned by an impressive gross profit margin of 50.84% for the same period, signaling strong operational efficiency.
InvestingPro Tips suggest a mixed outlook for the company's future. On the one hand, analysts expect net income and sales growth in the current year, which could indicate a positive trajectory for Bowman Consulting Group Ltd. On the other hand, two analysts have revised their earnings estimates downwards for the upcoming period, and the stock has experienced a downturn over the last month with a price total return of -18.72%. These contrasting views reflect the dynamic nature of the market and the challenges of forecasting performance.
For those interested in a deeper dive into Bowman Consulting Group Ltd.'s financial health and future prospects, InvestingPro offers additional insights. There are 11 InvestingPro Tips available that provide a comprehensive analysis of the company's financial performance and stock valuation. For readers looking to make informed investment decisions, using the coupon code PRONEWS24 will grant an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Visit https://www.investing.com/pro/BWMN to explore these expert tips and leverage the full suite of InvestingPro tools for your investment strategy.
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