Riverwater Partners LLC Acquires Shares of 36,507 Bowhead Specialty Holdings Inc. (NYSE:BOW)

Riverwater Partners LLC bought a new position in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 36,507 shares of the company's stock, valued at approximately $1,484,000. Riverwater Partners LLC owned about 0.11% of Bowhead Specialty as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its position in shares of 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. New York State Common Retirement Fund acquired a new position in Bowhead Specialty in the 4th quarter valued at $64,000. US Bancorp DE acquired a new position in shares of Bowhead Specialty during the 4th quarter worth $76,000. KLP Kapitalforvaltning AS bought a new stake in shares of Bowhead Specialty during the fourth quarter worth $107,000. Finally, GAMMA Investing LLC increased 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 buying an additional 3,290 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BOW. Keefe, Bruyette & Woods increased their price target on Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Morgan Stanley raised their price objective on Bowhead Specialty from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. JMP Securities raised their price objective on shares of Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, April 11th. Piper Sandler began coverage on Bowhead Specialty in a research note on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $39.67.

Bowhead Specialty Trading Down 0.3%

BOW opened at $36.17 on Friday. The firm has a market cap of $1.19 billion and a P/E ratio of 27.61. Bowhead Specialty Holdings Inc. has a 12 month low of $23.70 and a 12 month high of $42.29. The stock has a 50-day moving average of $38.31 and a 200 day moving average of $36.06.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.01. Bowhead Specialty had a return on equity of 12.52% and a net margin of 9.32%. The business had revenue of $174.85 million for the quarter, compared to the consensus estimate of $105.17 million. On average, research analysts forecast 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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