Informed Momentum Co LLC Invests $3.14 Million in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Key Points

• Informed Momentum Co LLC acquired a significant stake in Bowhead Specialty Holdings Inc., purchasing 77,174 shares valued at approximately $3.14 million, which represents 0.24% of the company.
• Recent analyst reports provide varying ratings for Bowhead Specialty, with seven analysts giving buy ratings and a consensus price target of $39.67.
• Director Matthew Botein and Director Gallatin Point Capital LLC each sold 2 million shares of Bowhead Specialty stock at an average price of $30.66, reducing their ownership by 18.23%.

Informed Momentum Co LLC acquired a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 77,174 shares of the company's stock, valued at approximately $3,137,000. Informed Momentum Co LLC owned approximately 0.24% of Bowhead Specialty at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its position in Bowhead Specialty by 66.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after acquiring an additional 486 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Bowhead Specialty in the 1st quarter worth $44,000. Nemes Rush Group LLC bought a new position in Bowhead Specialty in the 1st quarter worth $61,000. GAMMA Investing LLC increased its stake in Bowhead Specialty by 7,651.2% in the 1st quarter. GAMMA Investing LLC now owns 3,333 shares of the company's stock worth $135,000 after buying an additional 3,290 shares in the last quarter. Finally, State of Tennessee Department of Treasury purchased a new stake in Bowhead Specialty in the 4th quarter worth $199,000.

Bowhead Specialty Price Performance

NYSE:BOW traded down $0.14 during mid-day trading on Friday, hitting $30.65. The company's stock had a trading volume of 367,347 shares, compared to its average volume of 318,768. Bowhead Specialty Holdings Inc. has a 1 year low of $26.70 and a 1 year high of $42.29. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 20.85 and a beta of -0.69. The business's fifty day moving average is $34.13 and its two-hundred day moving average is $35.95.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Bowhead Specialty had a net margin of 10.05% and a return on equity of 13.25%. The company had revenue of $232.36 million for the quarter, compared to analyst estimates of $134.66 million. Analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BOW has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their price objective on Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on Bowhead Specialty in a research report on Friday, August 8th. They issued a "buy" rating for the company. Finally, Morgan Stanley lifted their price target on Bowhead Specialty from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.17.

Insider Transactions at Bowhead Specialty

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

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.