Bowhead Specialty (NYSE:BOW) Shares Up 4.2% - What's Next?

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) shares shot up 4.2% during trading on Thursday . The company traded as high as $38.61 and last traded at $38.87. 54,680 shares changed hands during trading, a decline of 70% from the average session volume of 185,117 shares. The stock had previously closed at $37.30.

Analysts Set New Price Targets

Separately, 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.60.

Bowhead Specialty Price Performance

The stock's 50-day simple moving average is $33.36 and its 200 day simple moving average is $32.55.

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

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Insider Transactions at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was acquired 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 $63,245.13. This represents a 373.25 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOW. Charles Schwab Investment Management Inc. acquired a new position in shares of Bowhead Specialty during the third quarter worth approximately $1,829,000. The Manufacturers Life Insurance Company boosted its position in Bowhead Specialty by 5.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 60,508 shares of the company's stock valued at $1,695,000 after buying an additional 2,976 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Bowhead Specialty in the 3rd quarter valued at $157,000. BNP Paribas Financial Markets bought a new stake in shares of Bowhead Specialty during the third quarter worth $484,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Bowhead Specialty during the third quarter valued at $123,000.

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.