Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Down 23.6% in February

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 346,800 shares, a decline of 23.6% from the January 31st total of 454,200 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 138,400 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BOW shares. JMP Securities boosted their price objective on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods upgraded Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada upped their price target on Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Bowhead Specialty currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.60.

Insider Buying and Selling at Bowhead Specialty

In other news, Director Ava Schnidman acquired 1,493 shares of Bowhead Specialty stock in a transaction on Friday, February 28th. The stock was bought at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the purchase, the director now owns 1,893 shares in the company, valued at $63,245.13. This represents a 373.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in Bowhead Specialty by 0.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 60,963 shares of the company’s stock worth $2,165,000 after acquiring an additional 455 shares during the period. Summit Investment Advisors Inc. grew its holdings in Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company’s stock worth $43,000 after acquiring an additional 486 shares during the period. Sei Investments Co. grew its holdings in Bowhead Specialty by 0.8% during the fourth quarter. Sei Investments Co. now owns 94,395 shares of the company’s stock worth $3,353,000 after acquiring an additional 760 shares during the period. Emerald Mutual Fund Advisers Trust grew its holdings in Bowhead Specialty by 0.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company’s stock worth $5,443,000 after acquiring an additional 937 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Bowhead Specialty by 0.3% during the fourth quarter. Schroder Investment Management Group now owns 365,886 shares of the company’s stock worth $12,641,000 after acquiring an additional 1,209 shares during the period.

Bowhead Specialty Stock Performance

Bowhead Specialty stock opened at $34.61 on Tuesday. Bowhead Specialty has a 12 month low of $22.14 and a 12 month high of $37.81. The business has a 50 day simple moving average of $32.92 and a 200-day simple moving average of $31.98.

Bowhead Specialty (NYSE:BOW) last released its quarterly 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 company had revenue of $184.77 million for the quarter, compared to analysts’ expectations of $102.12 million. As a group, research analysts anticipate that Bowhead Specialty will post 1.36 EPS 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.