Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Average Rating of “Moderate Buy” from Brokerages

Bowhead Specialty Holdings Inc. (NYSE:BOW) has been given an average rating of “Moderate Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.17.

A number of research firms have weighed in on BOW. JPMorgan Chase & Co. upped their price target on Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods cut their price objective on shares of Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Piper Sandler started coverage on Bowhead Specialty in a research note on Wednesday. They issued an “overweight” rating and a $44.00 price target on the stock. Finally, JMP Securities lifted their price objective on Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, April 11th.

Bowhead Specialty Stock Performance

Bowhead Specialty stock traded up $1.28 during mid-day trading on Wednesday, hitting $40.84. 25,792 shares of the company were exchanged, compared to its average volume of 222,648. The business’s 50 day simple moving average is $36.01 and its two-hundred day simple moving average is $33.90. Bowhead Specialty has a 12-month low of $22.14 and a 12-month high of $42.29.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. On average, analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Insider Activity at Bowhead Specialty

In related news, Director Ava Schnidman purchased 1,493 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the transaction, the director now owns 1,893 shares of the company’s stock, valued at $63,245.13. This trade represents a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Bowhead Specialty

A number of hedge funds have recently added to or reduced their stakes in BOW. Gallatin Point Capital LLC bought a new stake in Bowhead Specialty in the 4th quarter valued at about $389,599,000. Victory Capital Management Inc. boosted its position in shares of Bowhead Specialty by 129.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock worth $53,564,000 after buying an additional 849,408 shares during the period. Wasatch Advisors LP grew its holdings in Bowhead Specialty by 125.3% in the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock worth $28,874,000 after buying an additional 452,033 shares in the last quarter. Polar Capital Holdings Plc increased its position in Bowhead Specialty by 160.3% in the 4th quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company’s stock valued at $19,536,000 after acquiring an additional 338,738 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in Bowhead Specialty by 274.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 314,684 shares of the company’s stock worth $11,178,000 after acquiring an additional 230,722 shares during the period.

About Bowhead Specialty

Bowhead Specialty Holdings Inc provides specialty property and casualty insurance products in the United States. It underwrites casualty insurance solutions for risks in the construction, distribution, heavy manufacturing, real estate, and hospitality segments; professional liability insurance solutions for financial institutions, private and public directors and officers liability insurance, errors and omissions liability insurance, and cyber segments; and healthcare solutions for hospitals, senior care providers, managed care organizations, miscellaneous medical facilities, and healthcare management liability segments.