Bowhead Specialty Holdings Inc. (NYSE:BOW) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Moderate Buy consensus: nine analysts rate Bowhead Specialty an average "Moderate Buy" (4 holds, 4 buys, 1 strong buy) with an average 1-year price target of $33.33.
• Recent results and valuation: the company beat quarterly estimates (EPS $0.47 vs. $0.45; revenue $151.7M vs. $146.0M), has a P/E of 14.11 and a market cap of about $736.6M while the stock trades well below the consensus target (1-year low $21.21, high $42.14).
• Institutional interest rising: several funds added or initiated positions—most notably Millennium Management increased its stake to 250,277 shares (~$10.17M) and Royal Bank of Canada more than doubled its holdings.

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $33.3333.

Several brokerages have recently commented on BOW. Weiss Ratings reiterated a "hold (c-)" rating on shares of Bowhead Specialty in a research report on Friday. Royal Bank Of Canada reduced their price objective on Bowhead Specialty from $33.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Keefe, Bruyette & Woods upgraded shares of Bowhead Specialty from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, March 16th. Piper Sandler increased their target price on shares of Bowhead Specialty from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, December 22nd. Finally, Zacks Research raised shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 24th.

Bowhead Specialty Price Performance

Shares of BOW stock opened at $22.43 on Wednesday. The firm has a fifty day moving average of $23.97 and a two-hundred day moving average of $25.65. The firm has a market cap of $736.60 million, a P/E ratio of 14.11, a P/E/G ratio of 0.67 and a beta of -1.06. Bowhead Specialty has a 1-year low of $21.21 and a 1-year high of $42.14. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.52 and a quick ratio of 0.52.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $151.68 million for the quarter, compared to analysts' expectations of $145.99 million. Bowhead Specialty had a net margin of 9.75% and a return on equity of 13.27%. As a group, research analysts anticipate that Bowhead Specialty will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Bowhead Specialty by 112.7% during the first quarter. Royal Bank of Canada now owns 5,406 shares of the company's stock valued at $219,000 after purchasing an additional 2,864 shares during the last quarter. AQR Capital Management LLC acquired a new position in Bowhead Specialty during the 1st quarter valued at approximately $430,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Bowhead Specialty by 42.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,389 shares of the company's stock valued at $382,000 after purchasing an additional 2,802 shares during the period. Millennium Management LLC grew its stake in Bowhead Specialty by 75.8% during the 1st quarter. Millennium Management LLC now owns 250,277 shares of the company's stock worth $10,174,000 after buying an additional 107,896 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Bowhead Specialty in the first quarter worth $206,000.

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.

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