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

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price rose 5% during trading on Friday . The company traded as high as $25.59 and last traded at $25.63. Approximately 16,640 shares traded hands during 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

A number of analysts have issued reports on the company. Royal Bank Of Canada reduced their price objective on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Zacks Research raised shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. UBS Group set a $28.00 price target on shares of Bowhead Specialty in a research note on Thursday, May 21st. Weiss Ratings lowered shares of Bowhead Specialty from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bowhead Specialty from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.43.

Bowhead Specialty Stock Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 0.47 and a quick ratio of 0.47. The business has a 50-day moving average of $25.09 and a 200-day moving average of $25.43. The company has a market capitalization of $854.94 million and a P/E ratio of 15.05.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. The business had revenue of $155.69 million for the quarter, compared to analysts’ expectations of $211.74 million. On average, sell-side analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.97 EPS for the current year.

Institutional Trading of Bowhead Specialty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOW. Victory Capital Management Inc. grew its stake in shares of Bowhead Specialty by 54.3% during the third quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company’s stock valued at $41,244,000 after buying an additional 536,817 shares during the last quarter. Lighthouse Investment Partners LLC lifted its stake in shares of Bowhead Specialty by 138.1% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 208,655 shares of the company’s stock worth $5,642,000 after acquiring an additional 121,037 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Bowhead Specialty by 73.3% during the 3rd quarter. American Century Companies Inc. now owns 1,412,408 shares of the company’s stock worth $38,192,000 after acquiring an additional 597,191 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Bowhead Specialty during the 3rd quarter valued at $883,000. Finally, Bleakley Financial Group LLC bought a new position in Bowhead Specialty in the 4th quarter valued at $1,086,000.

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.