Bowhead Specialty (NYSE:BOW) Trading 4.2% Higher – Here’s What Happened

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

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bowhead Specialty currently has a consensus rating of “Moderate Buy” and an average price target of $33.60.

Bowhead Specialty Trading Up 3.8 %

The company’s fifty day simple moving average is $33.11 and its two-hundred day simple moving average is $32.44.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. Sell-side analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Activity

In other Bowhead Specialty news, Director Ava Schnidman bought 1,493 shares of Bowhead Specialty stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $33.41 per share, for a total transaction 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 represents a 373.25 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BOW. Summit Investment Advisors Inc. lifted its holdings in Bowhead Specialty by 66.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock valued at $43,000 after purchasing an additional 486 shares during the last quarter. New York State Common Retirement Fund bought a new position in Bowhead Specialty during the 4th quarter valued at about $64,000. US Bancorp DE bought a new position in Bowhead Specialty during the 4th quarter valued at about $76,000. KLP Kapitalforvaltning AS bought a new position in Bowhead Specialty during the 4th quarter valued at about $107,000. Finally, MetLife Investment Management LLC bought a new position in Bowhead Specialty during the 3rd quarter valued at about $123,000.

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.