Bowhead Specialty Holdings Inc. (NYSE:BOW) Sees Significant Increase in Short Interest

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 457,000 shares, a growth of 515.9% from the September 15th total of 74,200 shares. Currently, 2.5% of the company's shares are sold short. Based on an average daily volume of 135,900 shares, the short-interest ratio is currently 3.4 days.

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOW. Peregrine Capital Management LLC bought a new stake in shares of Bowhead Specialty during the 2nd quarter worth approximately $3,073,000. Lighthouse Investment Partners LLC acquired a new position in Bowhead Specialty during the second quarter worth $2,653,000. Sei Investments Co. bought a new stake in Bowhead Specialty during the second quarter worth $2,021,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Bowhead Specialty in the second quarter valued at $4,901,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Bowhead Specialty in the 2nd quarter valued at about $2,154,000.

Analyst Ratings Changes

BOW has been the topic of a number of recent analyst reports. Morgan Stanley started coverage on shares of Bowhead Specialty in a research report on Monday, June 17th. They set an "equal weight" rating and a $26.00 price target on the stock. JPMorgan Chase & Co. began coverage on Bowhead Specialty in a report on Monday, June 17th. They issued a "neutral" rating and a $27.00 price target for the company. JMP Securities started coverage on Bowhead Specialty in a report on Monday, June 17th. They set an "outperform" rating and a $31.00 price objective on the stock. Keefe, Bruyette & Woods initiated coverage on Bowhead Specialty in a research note on Monday, June 17th. They set a "market perform" rating and a $30.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $32.00 price target on shares of Bowhead Specialty in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $29.20.

Bowhead Specialty Stock Performance

Shares of NYSE:BOW traded down $0.06 during mid-day trading on Thursday, reaching $28.44. 55,087 shares of the stock were exchanged, compared to its average volume of 159,472. The business's 50 day moving average price is $28.83. Bowhead Specialty has a one year low of $22.14 and a one year high of $32.55.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $98.90 million for the quarter, compared to the consensus estimate of $94.28 million. The firm's quarterly revenue was up 51.0% on a year-over-year basis. On average, research analysts predict that Bowhead Specialty will post 1.3 earnings per share for the current fiscal year.

About Bowhead Specialty

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.