Cinctive Capital Management LP Invests $2.41 Million in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Cinctive Capital Management LP purchased a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in shares of Bowhead Specialty in the fourth quarter valued at about $409,000. Geode Capital Management LLC grew its position in shares of Bowhead Specialty by 30.6% during the 4th quarter. Geode Capital Management LLC now owns 218,642 shares of the company's stock worth $7,768,000 after purchasing an additional 51,209 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Bowhead Specialty by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 365,886 shares of the company's stock worth $12,641,000 after purchasing an additional 1,209 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bowhead Specialty in the fourth quarter valued at approximately $583,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Bowhead Specialty in the fourth quarter valued at approximately $145,000.

Analysts Set New Price Targets

A number of research firms have commented on BOW. Keefe, Bruyette & Woods upgraded Bowhead Specialty from a "market perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their target price on Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Bowhead Specialty has an average rating of "Moderate Buy" and an average target price of $34.60.

Insider Buying and Selling at Bowhead Specialty

In related news, Director Ava Schnidman bought 1,493 shares of the company's stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the acquisition, the director now owns 1,893 shares of the company's stock, valued at $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Bowhead Specialty Stock Performance

NYSE:BOW traded up $0.81 during mid-day trading on Tuesday, reaching $38.19. The stock had a trading volume of 53,104 shares, compared to its average volume of 208,173. Bowhead Specialty Holdings Inc. has a 12 month low of $22.14 and a 12 month high of $42.29. The stock has a 50-day simple moving average of $35.15 and a two-hundred day simple moving average of $33.39.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued 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. As a group, research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

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.