Bowhead Specialty Holdings Inc.’s (NYSE:BOW) Quiet Period Will End on July 2nd

Bowhead Specialty’s (NYSE:BOW) quiet period will end on Tuesday, July 2nd. Bowhead Specialty had issued 7,529,412 shares in its IPO on May 23rd. The total size of the offering was $128,000,004 based on an initial share price of $17.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada assumed coverage on Bowhead Specialty in a research report on Monday, June 17th. They issued an “outperform” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Bowhead Specialty in a report on Monday, June 17th. They issued a “neutral” rating and a $27.00 price objective on the stock. Keefe, Bruyette & Woods started coverage on Bowhead Specialty in a report on Monday, June 17th. They set a “market perform” rating and a $30.00 target price for the company. Morgan Stanley began coverage on shares of Bowhead Specialty in a report on Monday, June 17th. They issued an “equal weight” rating and a $26.00 price target on the stock. Finally, JMP Securities assumed coverage on shares of Bowhead Specialty in a research report on Monday, June 17th. They set an “outperform” rating and a $31.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bowhead Specialty currently has a consensus rating of “Hold” and an average price target of $29.20.

Bowhead Specialty Price Performance

Shares of NYSE BOW opened at $25.08 on Tuesday. Bowhead Specialty has a 12 month low of $22.14 and a 12 month high of $27.49.

Insider Buying and Selling

In other news, insider David John Newman acquired 26,815 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of $20.36 per share, with a total value of $545,953.40. Following the completion of the acquisition, the insider now owns 49,344 shares of the company’s stock, valued at $1,004,643.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Bowhead Specialty news, CAO Shirley Shek Li Yap bought 3,200 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $54,400.00. Following the transaction, the chief accounting officer now directly owns 14,964 shares of the company’s stock, valued at approximately $254,388. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David John Newman purchased 26,815 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $20.36 per share, with a total value of $545,953.40. Following the acquisition, the insider now owns 49,344 shares in the company, valued at approximately $1,004,643.84. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 100,839 shares of company stock valued at $1,804,361.

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.