Virtu Financial LLC Invests $240,000 in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Virtu Financial LLC bought a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW) during the 1st quarter, Holdings Channel.com reports. The fund bought 5,911 shares of the company’s stock, valued at approximately $240,000.

Several other hedge funds have also recently modified their holdings of BOW. Summit Investment Advisors Inc. lifted its holdings in shares of Bowhead Specialty by 66.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock worth $43,000 after buying an additional 486 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Bowhead Specialty in the first quarter worth $44,000. Nemes Rush Group LLC purchased a new position in shares of Bowhead Specialty in the first quarter worth $61,000. GAMMA Investing LLC lifted its holdings in shares of Bowhead Specialty by 7,651.2% in the first quarter. GAMMA Investing LLC now owns 3,333 shares of the company’s stock worth $135,000 after buying an additional 3,290 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Bowhead Specialty in the fourth quarter worth $199,000.

Bowhead Specialty Stock Down 0.5%

Bowhead Specialty stock opened at $30.65 on Friday. Bowhead Specialty Holdings Inc. has a 52-week low of $26.70 and a 52-week high of $42.29. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 20.85 and a beta of -0.69. The firm’s fifty day moving average is $34.13 and its 200 day moving average is $35.95.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. The business had revenue of $232.36 million for the quarter, compared to analysts’ expectations of $134.66 million. On average, equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BOW has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Bowhead Specialty from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Bowhead Specialty in a research note on Friday, August 8th. They set a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bowhead Specialty from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.17.

Insiders Place Their Bets

In other Bowhead Specialty news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the transaction, the director owned 8,968,445 shares in the company, valued at $274,972,523.70. The trade was a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Botein sold 2,000,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the transaction, the director owned 8,968,445 shares in the company, valued at $274,972,523.70. This trade represents a 18.23% decrease in their position. The disclosure for this sale can be found here.

Bowhead Specialty 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.