Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Up 20.3% in February

Bowhead Specialty Holdings Inc. (NYSE:BOW) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 950,096 shares, a growth of 20.3% from the February 12th total of 789,713 shares. Based on an average daily trading volume, of 319,632 shares, the short-interest ratio is presently 3.0 days. Approximately 2.9% of the shares of the company are short sold. Approximately 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 319,632 shares, the short-interest ratio is presently 3.0 days.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in shares of Bowhead Specialty by 3.5% during the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock valued at $413,000 after acquiring an additional 490 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Bowhead Specialty by 21.7% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 39,346 shares of the company’s stock worth $1,123,000 after purchasing an additional 7,005 shares in the last quarter. Interval Partners LP bought a new position in shares of Bowhead Specialty in the fourth quarter worth approximately $950,000. Balyasny Asset Management L.P. increased its position in shares of Bowhead Specialty by 122.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 251,893 shares of the company’s stock worth $7,189,000 after purchasing an additional 138,524 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its stake in Bowhead Specialty by 19.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 70,926 shares of the company’s stock valued at $2,024,000 after purchasing an additional 11,640 shares in the last quarter.

Bowhead Specialty Price Performance

NYSE:BOW traded down $0.02 during trading hours on Monday, hitting $22.58. The stock had a trading volume of 223,810 shares, compared to its average volume of 253,707. The company has a 50 day simple moving average of $24.58 and a two-hundred day simple moving average of $26.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.52 and a quick ratio of 0.52. Bowhead Specialty has a one year low of $21.93 and a one year high of $42.29. The firm has a market capitalization of $740.30 million, a price-to-earnings ratio of 14.20, a P/E/G ratio of 0.68 and a beta of -1.06.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. Bowhead Specialty had a net margin of 9.75% and a return on equity of 13.27%. The firm had revenue of $151.68 million for the quarter, compared to analysts’ expectations of $145.99 million. Research analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BOW has been the subject of several research reports. Piper Sandler increased their price target on Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Morgan Stanley dropped their price objective on shares of Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, November 17th. Zacks Research upgraded shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada reduced their target price on shares of Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bowhead Specialty has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

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.