Bowhead Specialty (NYSE:BOW) Trading Up 2.8% – Should You Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) shot up 2.8% during mid-day trading on Friday . The stock 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 raised Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Bowhead Specialty presently has an average rating of “Moderate Buy” and an average target price of $33.60.

Bowhead Specialty Stock Performance

The business’s 50-day simple moving average is $34.02 and its two-hundred day simple moving average is $32.79.

Bowhead Specialty (NYSE:BOW) last announced its quarterly 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 business had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. Equities research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current year.

Insider Activity

In other news, Director Ava Schnidman acquired 1,493 shares of the stock in a transaction on Friday, February 28th. The stock was bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the transaction, the director now directly owns 1,893 shares of the company’s stock, valued at $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Gallatin Point Capital LLC acquired a new stake in shares of Bowhead Specialty during the fourth quarter valued at about $389,599,000. American Family Investments Inc. purchased a new stake in Bowhead Specialty during the 3rd quarter worth approximately $169,826,000. Victory Capital Management Inc. raised its position in shares of Bowhead Specialty by 129.0% in the 4th 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. American Century Companies Inc. raised its position in shares of Bowhead Specialty by 3.6% in the 4th quarter. American Century Companies Inc. now owns 953,549 shares of the company’s stock valued at $33,870,000 after purchasing an additional 32,792 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in shares of Bowhead Specialty by 125.3% during the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company’s stock valued at $28,874,000 after buying an additional 452,033 shares during 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.