Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Down 23.6% in February

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 346,800 shares, a decline of 23.6% from the January 31st total of 454,200 shares. Based on an average daily trading volume, of 138,400 shares, the short-interest ratio is presently 2.5 days. Approximately 1.6% of the company’s stock are short sold.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock opened at $34.40 on Thursday. The firm has a fifty day moving average price of $32.91 and a two-hundred day moving average price of $32.09. Bowhead Specialty has a fifty-two week low of $22.14 and a fifty-two week high of $37.81.

Bowhead Specialty (NYSE:BOW) last released its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million during the quarter, compared to the consensus estimate of $102.12 million. As a group, analysts expect that Bowhead Specialty will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

BOW has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, JMP Securities raised their price target on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bowhead Specialty currently has an average rating of “Moderate Buy” and an average target price of $33.60.

Insiders Place Their Bets

In related news, Director Ava Schnidman acquired 1,493 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, with a total value of $49,881.13. Following the purchase, the director now owns 1,893 shares of the company’s stock, valued at approximately $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Bowhead Specialty

A number of institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new stake in shares of Bowhead Specialty during the 3rd quarter valued at about $1,829,000. Geode Capital Management LLC bought a new position in Bowhead Specialty during the third quarter worth about $4,691,000. Barclays PLC acquired a new stake in Bowhead Specialty during the third quarter valued at approximately $479,000. JPMorgan Chase & Co. bought a new stake in shares of Bowhead Specialty in the 3rd quarter valued at approximately $1,382,000. Finally, Victory Capital Management Inc. lifted its position in shares of Bowhead Specialty by 4.5% during the 3rd quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock worth $18,447,000 after buying an additional 28,235 shares during the period.

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.