Riverwater Partners LLC Makes New $1.48 Million Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

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

A number of other large investors also recently modified their holdings of the company. Summit Investment Advisors Inc. raised 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 buying an additional 486 shares during the last quarter. New York State Common Retirement Fund purchased a new stake in Bowhead Specialty in the 4th quarter valued at $64,000. US Bancorp DE purchased a new stake in Bowhead Specialty in the 4th quarter valued at $76,000. KLP Kapitalforvaltning AS purchased a new stake in Bowhead Specialty in the 4th quarter valued at $107,000. Finally, GAMMA Investing LLC raised its position in Bowhead Specialty by 7,651.2% in the 1st 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 last quarter.

Wall Street Analysts Forecast Growth

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

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded up $0.81 during trading hours on Monday, hitting $37.30. 110,118 shares of the company's stock traded hands, compared to its average volume of 202,134. Bowhead Specialty Holdings Inc. has a 12-month low of $23.70 and a 12-month high of $42.29. The stock has a market capitalization of $1.22 billion and a price-to-earnings ratio of 28.47. The company has a fifty day simple moving average of $38.23 and a 200-day simple moving average of $36.04.

Bowhead Specialty (NYSE:BOW - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Bowhead Specialty had a return on equity of 12.52% and a net margin of 9.32%. The firm had revenue of $174.85 million during the quarter, compared to analyst estimates of $105.17 million. On average, analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 EPS 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.