Bowhead Specialty (NYSE:BOW) Sees Large Volume Increase - Here's Why

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) saw an uptick in trading volume on Thursday . 777,542 shares were traded during trading, an increase of 390% from the previous session's volume of 158,698 shares.The stock last traded at $29.71 and had previously closed at $29.49.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank of Canada restated an "outperform" rating and issued a $32.00 price target on shares of Bowhead Specialty in a report on Wednesday, August 7th. JMP Securities boosted their target price on shares of Bowhead Specialty from $31.00 to $32.00 and gave the company a "market outperform" rating in a report on Tuesday, October 15th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $29.40.

Bowhead Specialty Trading Up 0.1 %

The company's 50 day simple moving average is $29.39.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $98.90 million during the quarter, compared to analyst estimates of $94.28 million. The company's quarterly revenue was up 51.0% on a year-over-year basis. Analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.3 earnings per share for the current year.

Hedge Funds Weigh In On Bowhead Specialty

Several hedge funds and other institutional investors have recently bought and sold shares of BOW. Point72 Asset Management L.P. acquired a new stake in Bowhead Specialty in the second quarter valued at approximately $117,000. Sandia Investment Management LP acquired a new stake in Bowhead Specialty during the 2nd quarter valued at $127,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Bowhead Specialty during the 2nd quarter worth $192,000. Davidson Kempner Capital Management LP acquired a new position in Bowhead Specialty in the 2nd quarter worth $253,000. Finally, TD Asset Management Inc purchased a new position in Bowhead Specialty in the 2nd quarter valued at about $265,000.

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.