Bowhead Specialty (NYSE:BOW) Shares Up 5% – Here’s What Happened

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s stock price was up 5% on Friday . The stock traded as high as $25.59 and last traded at $25.63. Approximately 16,640 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 210,768 shares. The stock had previously closed at $24.40.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BOW shares. UBS Group set a $28.00 price target on shares of Bowhead Specialty in a research note on Thursday, May 21st. Weiss Ratings lowered Bowhead Specialty from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Morgan Stanley raised their target price on Bowhead Specialty from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Royal Bank Of Canada lowered their target price on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Piper Sandler boosted their price target on Bowhead Specialty from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Bowhead Specialty currently has an average rating of “Moderate Buy” and a consensus target price of $31.43.

Bowhead Specialty Trading Up 6.7%

The stock has a fifty day simple moving average of $25.09 and a 200 day simple moving average of $25.43. The firm has a market capitalization of $854.94 million and a P/E ratio of 15.05. 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 released its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $155.69 million during the quarter, compared to analyst estimates of $211.74 million. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%. As a group, research analysts forecast that Bowhead Specialty Holdings Inc. will post 1.97 EPS for the current year.

Institutional Investors Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in Bowhead Specialty by 73.3% during the third quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock valued at $38,192,000 after acquiring an additional 597,191 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Bowhead Specialty by 54.3% during the 3rd quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company’s stock valued at $41,244,000 after purchasing an additional 536,817 shares during the last quarter. Polar Capital Holdings Plc boosted its holdings in shares of Bowhead Specialty by 77.6% during the 4th quarter. Polar Capital Holdings Plc now owns 1,225,000 shares of the company’s stock valued at $34,962,000 after purchasing an additional 535,065 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Bowhead Specialty by 36.7% during the third quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company’s stock valued at $40,746,000 after purchasing an additional 404,199 shares in the last quarter. Finally, Gillson Capital LP bought a new stake in shares of Bowhead Specialty in the fourth quarter worth about $11,317,000.

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.