Wasatch Advisors LP Sells 451,569 Shares of Bowhead Specialty Holdings Inc. $BOW

Wasatch Advisors LP trimmed its position in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 62.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,228 shares of the company’s stock after selling 451,569 shares during the quarter. Wasatch Advisors LP’s holdings in Bowhead Specialty were worth $6,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Bowhead Specialty by 112.7% in the 1st quarter. Royal Bank of Canada now owns 5,406 shares of the company’s stock worth $219,000 after acquiring an additional 2,864 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of Bowhead Specialty during the first quarter valued at about $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Bowhead Specialty by 42.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company’s stock valued at $382,000 after acquiring an additional 2,802 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Bowhead Specialty by 75.8% during the first quarter. Millennium Management LLC now owns 250,277 shares of the company’s stock worth $10,174,000 after purchasing an additional 107,896 shares during the period. Finally, NewEdge Advisors LLC purchased a new stake in shares of Bowhead Specialty during the first quarter worth about $206,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on BOW shares. UBS Group set a $28.00 price target on Bowhead Specialty in a report on Thursday, May 21st. Citizens Jmp cut their price objective on Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Piper Sandler boosted their target price on Bowhead Specialty from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Weiss Ratings raised Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods upped their target price on Bowhead Specialty from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bowhead Specialty currently has an average rating of “Moderate Buy” and a consensus target price of $31.43.

Bowhead Specialty Trading Up 5.5%

NYSE BOW opened at $29.82 on Friday. The firm has a market capitalization of $979.42 million and a PE ratio of 17.24. The stock’s 50 day moving average is $26.51 and its 200 day moving average is $25.48. Bowhead Specialty Holdings Inc. has a twelve month low of $21.21 and a twelve month high of $37.98. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $155.69 million during the quarter, compared to the consensus estimate of $211.74 million. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%. Research analysts forecast that Bowhead Specialty Holdings Inc. will post 1.97 earnings per share for the current fiscal year.

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.