Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Update

Key Points

• Short interest in Bowhead fell by 28.5% in March to 679,310 shares (about 2.2% of the stock), yielding a short-interest ratio of 3.1 days based on average daily volume.
• Analysts hold a consensus Moderate Buy with an average price target of $33.33 after mixed rating changes, including upgrades from Keefe, Bruyette & Woods and a lowered target from RBC.
• Bowhead beat expectations last quarter with $0.47 EPS vs. $0.45 est. and $151.7M revenue, while the stock trades near $21.73, has a market cap of about $713M and a trailing P/E of 13.66 (52‑week range $21.21–$42.29).

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 679,310 shares, a decrease of 28.5% from the February 26th total of 950,096 shares. Approximately 2.2% of the company's stock are sold short. Based on an average daily volume of 219,744 shares, the short-interest ratio is currently 3.1 days.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings restated a "hold (c-)" rating on shares of Bowhead Specialty in a report on Monday, December 29th. Keefe, Bruyette & Woods upgraded Bowhead Specialty from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, March 16th. Zacks Research raised Bowhead Specialty from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 24th. Royal Bank Of Canada cut 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. Finally, Piper Sandler boosted their target price on Bowhead Specialty from $30.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $33.33.

Institutional Investors Weigh In On Bowhead Specialty

Several hedge funds have recently modified their holdings of BOW. Y Intercept Hong Kong Ltd increased its stake in Bowhead Specialty by 47.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 133,958 shares of the company's stock valued at $3,622,000 after acquiring an additional 43,029 shares during the period. DAVENPORT & Co LLC raised its position in Bowhead Specialty by 205.7% in the third quarter. DAVENPORT & Co LLC now owns 269,769 shares of the company's stock worth $7,295,000 after purchasing an additional 181,531 shares in the last quarter. American Century Companies Inc. lifted its stake in Bowhead Specialty by 1.6% during the second quarter. American Century Companies Inc. now owns 815,217 shares of the company's stock worth $30,595,000 after purchasing an additional 12,849 shares during the period. Victory Capital Management Inc. boosted its holdings in Bowhead Specialty by 54.3% during the third quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company's stock valued at $41,244,000 after purchasing an additional 536,817 shares in the last quarter. Finally, Lighthouse Investment Partners LLC boosted its holdings in Bowhead Specialty by 138.1% during the third quarter. Lighthouse Investment Partners LLC now owns 208,655 shares of the company's stock valued at $5,642,000 after purchasing an additional 121,037 shares in the last quarter.

Bowhead Specialty Stock Performance

BOW stock traded down $0.75 during mid-day trading on Friday, reaching $21.73. 140,423 shares of the stock traded hands, compared to its average volume of 204,538. The firm has a market capitalization of $713.48 million, a PE ratio of 13.66, a P/E/G ratio of 0.66 and a beta of -1.06. The business has a 50-day moving average of $24.05 and a two-hundred day moving average of $25.76. Bowhead Specialty has a 52 week low of $21.21 and a 52 week high of $42.29. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.33.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.02. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%.The business had revenue of $151.68 million for the quarter, compared to analyst estimates of $145.99 million. As a group, equities analysts predict 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.

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