Wasatch Advisors LP Acquires 78,209 Shares of Bowhead Specialty Holdings Inc. $BOW

Wasatch Advisors LP increased its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 28.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,437 shares of the company’s stock after acquiring an additional 78,209 shares during the period. Wasatch Advisors LP owned approximately 1.06% of Bowhead Specialty worth $10,429,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Langdon Equity Partners bought a new stake in shares of Bowhead Specialty in the 4th quarter valued at approximately $28,000. Versant Capital Management Inc boosted its holdings in shares of Bowhead Specialty by 262.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock worth $31,000 after purchasing an additional 751 shares during the period. Raymond James Financial Inc. bought a new position in shares of Bowhead Specialty during the 2nd quarter valued at approximately $52,000. CWM LLC increased its position in shares of Bowhead Specialty by 257.7% during the 4th quarter. CWM LLC now owns 1,481 shares of the company’s stock valued at $42,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Bowhead Specialty by 181.4% during the 1st quarter. Parallel Advisors LLC now owns 1,652 shares of the company’s stock valued at $37,000 after buying an additional 1,065 shares during the period.

Analysts Set New Price Targets

Several research firms have commented on BOW. Keefe, Bruyette & Woods lifted their price objective on shares of Bowhead Specialty from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada downgraded shares of Bowhead Specialty from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $38.00 to $34.00 in a research note on Tuesday, August 4th. JPMorgan Chase & Co. raised their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Morgan Stanley lifted their price target on shares of Bowhead Specialty from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $33.00.

Bowhead Specialty Stock Performance

Shares of Bowhead Specialty stock opened at $33.56 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average is $30.12 and its two-hundred day moving average is $26.57. Bowhead Specialty Holdings Inc. has a 52 week low of $21.21 and a 52 week high of $35.07. The company has a market capitalization of $1.11 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.00 and a beta of -0.11.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $163.86 million during the quarter, compared to the consensus estimate of $278.69 million. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%. As a group, analysts expect that Bowhead Specialty Holdings Inc. will post 1.99 earnings per share for the current year.

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.