Wasatch Advisors LP Increases Stake in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Wasatch Advisors LP lifted its holdings in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 125.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 812,901 shares of the company's stock after purchasing an additional 452,033 shares during the quarter. Wasatch Advisors LP owned 2.49% of Bowhead Specialty worth $28,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Investment Advisors Inc. boosted its position in shares of Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after buying an additional 486 shares during the last quarter. New York State Common Retirement Fund bought a new position in Bowhead Specialty in the fourth quarter worth about $64,000. US Bancorp DE bought a new position in Bowhead Specialty during the 4th quarter valued at approximately $76,000. KLP Kapitalforvaltning AS bought a new stake in Bowhead Specialty in the 4th quarter worth about $107,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Bowhead Specialty during the 4th quarter valued at about $145,000.

Insiders Place Their Bets

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

Analysts Set New Price Targets

BOW has been the topic of a number of analyst reports. JMP Securities boosted their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods cut their target price on shares of Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler began coverage on Bowhead Specialty in a research report on Wednesday. They issued an "overweight" rating and a $44.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $37.17.

Bowhead Specialty Price Performance

NYSE:BOW traded up $0.31 during trading hours on Friday, hitting $40.14. 210,798 shares of the company traded hands, compared to its average volume of 212,890. The firm's 50-day simple moving average is $36.43 and its 200-day simple moving average is $34.10. Bowhead Specialty Holdings Inc. has a one year low of $22.14 and a one year high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share 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 the consensus estimate of $102.12 million. As a group, analysts forecast 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.