Bowhead Specialty (NYSE:BOW) Hits New 1-Year High – Here’s What Happened

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $37.81 and last traded at $37.61, with a volume of 41195 shares changing hands. The stock had previously closed at $36.52.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, March 3rd. Two 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, Bowhead Specialty presently has an average rating of “Moderate Buy” and an average price target of $33.60.

Bowhead Specialty Stock Up 2.5 %

The company’s fifty day simple moving average is $32.89 and its 200-day simple moving average is $32.36.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to the consensus estimate of $102.12 million. On average, equities research analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ava Schnidman bought 1,493 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the transaction, the director now directly owns 1,893 shares of the company’s stock, valued at $63,245.13. This trade represents a 373.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Trading of Bowhead Specialty

Large investors have recently added to or reduced their stakes in the company. Gallatin Point Capital LLC bought a new position in shares of Bowhead Specialty in the fourth quarter valued at approximately $389,599,000. American Family Investments Inc. acquired a new position in Bowhead Specialty in the third quarter worth $169,826,000. Victory Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 849,408 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of Bowhead Specialty by 125.3% in the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock valued at $28,874,000 after buying an additional 452,033 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its holdings in shares of Bowhead Specialty by 160.3% in the fourth quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company’s stock valued at $19,536,000 after buying an additional 338,738 shares during the last quarter.

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.