Bowhead Specialty (NYSE:BOW) Shares Up 4.2% – What’s Next?

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s stock price was up 4.2% during mid-day trading on Thursday . The company traded as high as $38.61 and last traded at $38.87. Approximately 54,680 shares changed hands during trading, a decline of 70% from the average daily volume of 185,117 shares. The stock had previously closed at $37.30.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bowhead Specialty presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Bowhead Specialty Trading Down 1.8 %

The firm’s 50 day moving average price is $33.36 and its two-hundred day moving average price is $32.53.

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

Insider Activity at Bowhead Specialty

In other news, Director Ava Schnidman acquired 1,493 shares of Bowhead Specialty stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the transaction, the director now directly owns 1,893 shares in the company, valued at approximately $63,245.13. This trade represents a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gallatin Point Capital LLC purchased a new stake in shares of Bowhead Specialty in the fourth quarter valued at approximately $389,599,000. American Family Investments Inc. purchased a new position in Bowhead Specialty in the third quarter worth $169,826,000. Victory Capital Management Inc. lifted its holdings in Bowhead Specialty by 129.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock valued at $53,564,000 after acquiring an additional 849,408 shares during the period. American Century Companies Inc. boosted its position in shares of Bowhead Specialty by 3.6% during the 4th quarter. American Century Companies Inc. now owns 953,549 shares of the company’s stock worth $33,870,000 after purchasing an additional 32,792 shares in the last quarter. Finally, Wasatch Advisors LP grew its stake in shares of Bowhead Specialty by 125.3% during the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock worth $28,874,000 after purchasing an additional 452,033 shares during the period.

Bowhead Specialty Company Profile

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.