Informed Momentum Co LLC Acquires Shares of 77,174 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 bought a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 77,174 shares of the company's stock, valued at approximately $3,137,000. Informed Momentum Co LLC owned about 0.24% of Bowhead Specialty as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Bowhead Specialty during the first quarter worth about $44,000. Summit Investment Advisors Inc. boosted its stake in Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock worth $43,000 after buying an additional 486 shares during the period. Nemes Rush Group LLC purchased a new position in shares of Bowhead Specialty in the first quarter valued at approximately $61,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 3,290 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in shares of Bowhead Specialty in the fourth quarter valued at approximately $199,000.

Insider Transactions at Bowhead Specialty

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

Bowhead Specialty Stock Down 0.5%

NYSE:BOW traded down $0.14 during midday trading on Friday, reaching $30.65. The stock had a trading volume of 367,347 shares, compared to its average volume of 240,177. The firm has a fifty day simple moving average of $34.25 and a two-hundred day simple moving average of $35.96. Bowhead Specialty Holdings Inc. has a 12-month low of $26.70 and a 12-month high of $42.29. The stock has a market cap of $1.00 billion, a P/E ratio of 20.85 and a beta of -0.69.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Bowhead Specialty in a report on Friday, August 8th. They issued a "buy" rating on the stock. Morgan Stanley raised their target price on shares of Bowhead Specialty from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Bowhead Specialty from $45.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.17.

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.