Balyasny Asset Management L.P. Acquires 230,722 Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW)

Balyasny Asset Management L.P. lifted its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 274.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,684 shares of the company's stock after purchasing an additional 230,722 shares during the period. Balyasny Asset Management L.P. owned 0.96% of Bowhead Specialty worth $11,178,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Gallatin Point Capital LLC purchased a new stake in Bowhead Specialty during the 4th quarter valued at $389,599,000. Victory Capital Management Inc. raised its holdings in Bowhead Specialty by 129.0% in the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company's stock worth $53,564,000 after purchasing an additional 849,408 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Bowhead Specialty by 125.3% in the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company's stock worth $28,874,000 after purchasing an additional 452,033 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Bowhead Specialty by 55.1% in the 4th quarter. Vanguard Group Inc. now owns 647,182 shares of the company's stock valued at $22,988,000 after purchasing an additional 230,039 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its holdings in shares of Bowhead Specialty by 143.3% during the fourth quarter. Peregrine Capital Management LLC now owns 295,723 shares of the company's stock valued at $10,504,000 after buying an additional 174,172 shares during the last quarter.

Analyst Ratings Changes

BOW has been the subject of a number of recent research reports. Piper Sandler initiated coverage on Bowhead Specialty in a research note on Wednesday, April 16th. They set an "overweight" rating and a $44.00 price objective for the company. JMP Securities lifted their price objective on Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods raised their price objective on Bowhead Specialty from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Bowhead Specialty presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

Bowhead Specialty Stock Performance

NYSE:BOW traded up $0.52 during mid-day trading on Friday, reaching $39.62. The stock had a trading volume of 271,422 shares, compared to its average volume of 217,907. The business has a 50 day simple moving average of $38.71 and a 200 day simple moving average of $35.25. Bowhead Specialty Holdings Inc. has a twelve month low of $22.14 and a twelve month high of $42.29. The firm has a market capitalization of $1.29 billion and a price-to-earnings ratio of 30.24.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The company had revenue of $174.85 million for the quarter, compared to analyst estimates of $105.17 million. As a group, sell-side analysts expect that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ava Schnidman acquired 1,493 shares of Bowhead Specialty stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $33.41 per share, for a total transaction of $49,881.13. Following the transaction, the director now directly owns 1,893 shares of the company's stock, valued at $63,245.13. This trade represents a 373.25 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Bowhead Specialty 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.