Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Update

Bowhead Specialty Holdings Inc. (NYSE:BOW) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 703,400 shares, a growth of 140.6% from the March 15th total of 292,300 shares. Currently, 3.6% of the shares of the stock are short sold. Based on an average daily volume of 223,700 shares, the days-to-cover ratio is currently 3.1 days.

Bowhead Specialty Stock Up 0.3 %

Shares of BOW traded up $0.12 during trading hours on Tuesday, reaching $39.79. 330,433 shares of the company traded hands, compared to its average volume of 212,234. The stock’s fifty day moving average is $35.89 and its 200 day moving average is $33.85. Bowhead Specialty has a 1-year low of $22.14 and a 1-year high of $42.29.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share (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 the consensus estimate of $102.12 million. On average, equities research analysts expect that Bowhead Specialty will post 1.36 earnings per share for the current year.

Insider Activity

In other news, Director Ava Schnidman acquired 1,493 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the purchase, the director now directly owns 1,893 shares of the company’s stock, valued at approximately $63,245.13. This trade represents a 373.25 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

Several institutional investors have recently bought and sold shares of the business. Gallatin Point Capital LLC bought a new position in shares of Bowhead Specialty during the 4th quarter valued at about $389,599,000. Victory Capital Management Inc. increased its stake in Bowhead Specialty by 129.0% during the 4th quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company’s stock worth $53,564,000 after acquiring an additional 849,408 shares during the period. Wasatch Advisors LP raised its holdings in Bowhead Specialty by 125.3% in the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock valued at $28,874,000 after acquiring an additional 452,033 shares in the last quarter. Polar Capital Holdings Plc raised its stake in 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 purchasing an additional 338,738 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Bowhead Specialty by 274.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 314,684 shares of the company’s stock worth $11,178,000 after purchasing an additional 230,722 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 8th. JMP Securities boosted their price objective on Bowhead Specialty from $38.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Bowhead Specialty from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

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.