Bowhead Specialty Holdings Inc. (NYSE:BOW) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Bowhead Specialty Holdings Inc. (NYSE:BOW) has received a consensus rating of “Moderate Buy” from nine brokerages, with an average twelve-month price target of $36.00.
• Director Matthew Botein and Gallatin Point Capital LLC each sold 2,000,000 shares of the company at an average price of $30.66, reflecting a significant ownership decrease of 18.23%.
• Bowhead Specialty reported an earnings per share (EPS) of $0.37, exceeding analysts' estimates, alongside revenue of $232.36 million, significantly surpassing expectations of $134.66 million.

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $36.00.

BOW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Bowhead Specialty in a research report on Friday, August 8th. They set a "buy" rating on the stock. Piper Sandler lowered their target price on shares of Bowhead Specialty from $38.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, October 2nd. Keefe, Bruyette & Woods lowered their target price on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bowhead Specialty in a report on Saturday, September 27th.

Insider Buying and Selling at Bowhead Specialty

In related news, Director Matthew Botein sold 2,000,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $30.66, for a total transaction of $61,320,000.00. Following the completion of the sale, the director directly owned 8,968,445 shares of the company's stock, valued at $274,972,523.70. This trade represents a 18.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gallatin Point Capital Llc sold 2,000,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $30.66, for a total value of $61,320,000.00. Following the sale, the director directly owned 8,968,445 shares of the company's stock, valued at approximately $274,972,523.70. This represents a 18.23% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Institutional Investors Weigh In On Bowhead Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in Bowhead Specialty in the first quarter valued at $44,000. Raymond James Financial Inc. acquired a new stake in Bowhead Specialty in the second quarter valued at $52,000. Nemes Rush Group LLC acquired a new stake in Bowhead Specialty in the first quarter valued at $61,000. Tower Research Capital LLC TRC lifted its holdings in Bowhead Specialty by 99.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company's stock valued at $72,000 after acquiring an additional 958 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Bowhead Specialty by 7,651.2% in the first quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock valued at $135,000 after acquiring an additional 3,290 shares during the period.

Bowhead Specialty Stock Down 1.0%

Shares of Bowhead Specialty stock opened at $25.99 on Wednesday. The firm has a market capitalization of $851.95 million, a P/E ratio of 17.68 and a beta of -0.88. Bowhead Specialty has a 52 week low of $23.70 and a 52 week high of $42.29. The firm's 50 day moving average is $29.65 and its two-hundred day moving average is $34.75.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $232.36 million for the quarter, compared to analyst estimates of $134.66 million. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. As a group, research analysts expect that Bowhead Specialty will post 1.36 earnings per share for the current fiscal year.

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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