Bowhead Specialty (NYSE:BOW) Trading 2.8% Higher - Should You Buy?

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) traded up 2.8% on Friday . The company traded as high as $41.99 and last traded at $42.15. 335,287 shares changed hands during trading, an increase of 67% from the average session volume of 201,245 shares. The stock had previously closed at $41.00.

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 target price on the stock in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $33.60.

Bowhead Specialty Trading Up 0.9 %

The firm has a fifty day simple moving average of $34.35 and a 200-day simple moving average of $32.99.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced 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 analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

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Insider Activity at Bowhead Specialty

In related news, Director Ava Schnidman purchased 1,493 shares of the business's stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the purchase, the director now directly owns 1,893 shares in the company, valued at $63,245.13. This trade represents a 373.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Institutional Investors Weigh In On Bowhead Specialty

Institutional investors have recently made changes to their positions in the stock. Gallatin Point Capital LLC acquired a new position in shares of Bowhead Specialty during the 4th quarter worth about $389,599,000. American Family Investments Inc. acquired a new position in Bowhead Specialty during the third quarter valued at approximately $169,826,000. Victory Capital Management Inc. increased its stake in Bowhead Specialty by 129.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company's stock valued at $53,564,000 after purchasing an additional 849,408 shares in the last quarter. Wasatch Advisors LP raised its holdings in Bowhead Specialty by 125.3% in the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company's stock worth $28,874,000 after purchasing an additional 452,033 shares during the period. Finally, Polar Capital Holdings Plc boosted its position in shares of Bowhead Specialty by 160.3% during the fourth quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company's stock worth $19,536,000 after purchasing an additional 338,738 shares in the last quarter.

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.