Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Down 23.6% in February

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 346,800 shares, a decrease of 23.6% from the January 31st total of 454,200 shares. Based on an average daily volume of 138,400 shares, the short-interest ratio is presently 2.5 days. Approximately 1.6% of the shares of the stock are sold short.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Ava Schnidman bought 1,493 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now owns 1,893 shares of the company’s stock, valued at approximately $63,245.13. This trade represents a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Bowhead Specialty

Several large investors have recently added to or reduced their stakes in the business. Gallatin Point Capital LLC purchased a new position in Bowhead Specialty during the fourth quarter worth about $389,599,000. American Family Investments Inc. purchased a new position in Bowhead Specialty during the third quarter worth about $169,826,000. Victory Capital Management Inc. lifted its position in 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. American Century Companies Inc. lifted its position in Bowhead Specialty by 3.6% during the fourth quarter. American Century Companies Inc. now owns 953,549 shares of the company’s stock worth $33,870,000 after buying an additional 32,792 shares during the period. Finally, Wasatch Advisors LP lifted its position in Bowhead Specialty by 125.3% during the fourth 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 during the period.

Bowhead Specialty Stock Performance

Shares of NYSE:BOW opened at $34.61 on Tuesday. Bowhead Specialty has a 52-week low of $22.14 and a 52-week high of $37.81. The stock’s fifty day simple moving average is $32.92 and its 200-day simple moving average is $31.98.

Bowhead Specialty (NYSE:BOW) last released its earnings results 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 business had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. On average, equities research analysts anticipate that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Keefe, Bruyette & Woods raised Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday. JPMorgan Chase & Co. upped their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. JMP Securities upped their price objective on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Bowhead Specialty presently has an average rating of “Moderate Buy” and a consensus price target of $33.60.

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.