Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Down 8.5% in October

Bowhead Specialty Holdings Inc. (NYSE:BOW) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 343,700 shares, a decrease of 8.5% from the October 15th total of 375,700 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 206,100 shares, the short-interest ratio is presently 1.7 days.

Insider Activity

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the completion of the sale, the director now owns 4,700,761 shares in the company, valued at $130,211,079.70. This represents a 22.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Bowhead Specialty during the second quarter valued at approximately $2,770,000. Peregrine Capital Management LLC purchased a new stake in shares of Bowhead Specialty during the 2nd quarter valued at about $3,073,000. TD Asset Management Inc acquired a new position in shares of Bowhead Specialty during the second quarter worth $265,000. Victory Capital Management Inc. acquired a new position in Bowhead Specialty in the 2nd quarter worth $15,973,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in shares of Bowhead Specialty in the second quarter worth about $4,901,000.

Bowhead Specialty Trading Up 0.5 %

BOW stock traded up $0.16 during trading on Monday, reaching $33.70. 96,946 shares of the company were exchanged, compared to its average volume of 186,811. Bowhead Specialty has a 52-week low of $22.14 and a 52-week high of $34.49. The firm’s 50 day moving average is $29.78.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $116.76 million during the quarter, compared to analysts’ expectations of $113.00 million. On average, equities research analysts expect that Bowhead Specialty will post 1.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BOW shares. Royal Bank of Canada upped their price objective on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. JMP Securities raised their price objective on shares of Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their target price on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. raised their price target on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.40.

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.