Bowhead Specialty Holdings Inc. $BOW Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL cut its stake in Bowhead Specialty by 85.1% in Q3, selling 42,394 shares and leaving 7,426 shares worth about $201,000 per its SEC filing.
• A number of large institutions increased positions—American Family Investments now owns 5,023,778 shares (~$188.5M), while Victory, Vanguard, American Century and Polar Capital also materially raised their stakes.
• Analyst sentiment is mixed but overall an average rating of Moderate Buy with a mean price target of $31.83; the stock trades at $24.60 (market cap ~$807.7M) and recently beat quarterly EPS ($0.47 vs. $0.45) and revenue estimates.

Tudor Investment Corp ET AL lowered its holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 85.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,426 shares of the company's stock after selling 42,394 shares during the quarter. Tudor Investment Corp ET AL's holdings in Bowhead Specialty were worth $201,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. American Family Investments Inc. lifted its holdings in Bowhead Specialty by 6.9% in the second quarter. American Family Investments Inc. now owns 5,023,778 shares of the company's stock valued at $188,542,000 after acquiring an additional 323,017 shares during the period. Victory Capital Management Inc. lifted its holdings in Bowhead Specialty by 54.3% in the third quarter. Victory Capital Management Inc. now owns 1,525,285 shares of the company's stock valued at $41,244,000 after acquiring an additional 536,817 shares during the period. Vanguard Group Inc. lifted its holdings in Bowhead Specialty by 36.7% in the third quarter. Vanguard Group Inc. now owns 1,506,887 shares of the company's stock valued at $40,746,000 after acquiring an additional 404,199 shares during the period. American Century Companies Inc. lifted its holdings in Bowhead Specialty by 73.3% in the third quarter. American Century Companies Inc. now owns 1,412,408 shares of the company's stock valued at $38,192,000 after acquiring an additional 597,191 shares during the period. Finally, Polar Capital Holdings Plc lifted its holdings in Bowhead Specialty by 10.4% in the third quarter. Polar Capital Holdings Plc now owns 689,935 shares of the company's stock valued at $18,656,000 after acquiring an additional 64,935 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have commented on BOW shares. Royal Bank Of Canada reduced their target price on Bowhead Specialty from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Keefe, Bruyette & Woods raised Bowhead Specialty from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, March 16th. Piper Sandler raised their target price on Bowhead Specialty from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Monday, December 22nd. Morgan Stanley cut their price target on Bowhead Specialty from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Bowhead Specialty in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $31.83.

Bowhead Specialty Trading Up 0.5%

NYSE:BOW opened at $24.60 on Friday. The company has a market capitalization of $807.70 million, a PE ratio of 15.47, a price-to-earnings-growth ratio of 0.74 and a beta of -0.49. 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 Holdings Inc. has a 52-week low of $21.21 and a 52-week high of $41.98. The stock has a fifty day simple moving average of $23.61 and a 200-day simple moving average of $25.31.

Bowhead Specialty (NYSE:BOW - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $151.68 million during the quarter, compared to the consensus estimate of $145.99 million. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%. On average, equities research analysts expect that Bowhead Specialty Holdings Inc. 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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