67,730 Shares in Bowhead Specialty Holdings Inc. (NYSE:BOW) Bought by Cinctive Capital Management LP

Cinctive Capital Management LP purchased a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 67,730 shares of the company's stock, valued at approximately $2,406,000. Cinctive Capital Management LP owned 0.21% of Bowhead Specialty at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new stake in shares of Bowhead Specialty during the 4th quarter worth about $64,000. US Bancorp DE purchased a new stake in Bowhead Specialty during the fourth quarter worth approximately $76,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Bowhead Specialty in the fourth quarter worth $107,000. MetLife Investment Management LLC purchased a new position in shares of Bowhead Specialty in the 3rd quarter valued at $123,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Bowhead Specialty in the 4th quarter valued at $145,000.

Bowhead Specialty Price Performance

Shares of BOW stock traded down $3.31 on Friday, hitting $38.23. The stock had a trading volume of 485,522 shares, compared to its average volume of 207,894. The stock's 50 day moving average is $35.05 and its 200-day moving average is $33.27. Bowhead Specialty Holdings Inc. has a 52-week low of $22.14 and a 52-week high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.07. The firm had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. Equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

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Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Bowhead Specialty from a "market perform" rating to an "outperform" rating and set a $44.00 price target for the company in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $33.60.

Insider Activity at Bowhead Specialty

In related news, Director Ava Schnidman purchased 1,493 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now directly owns 1,893 shares of the company's stock, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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.