Steelhead Wealth Management LLC Buys Shares of 95,569 Bowhead Specialty Holdings Inc. $BOW

Key Points

• Steelhead Wealth Management acquired 95,569 shares of Bowhead Specialty Holdings, valued at approximately $2.14 million. The position represents about 1.1% of Steelhead’s portfolio and 0.29% of Bowhead’s outstanding shares.
• Bowhead Specialty reported quarterly EPS of $0.48, beating estimates of $0.42, while revenue came in at $155.69 million versus analyst expectations of $211.74 million. Analysts expect full-year EPS of approximately $1.96.
• The stock recently traded at $30.61, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $33.71; targets range from $28 to $38.

Steelhead Wealth Management LLC bought a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 95,569 shares of the company's stock, valued at approximately $2,143,000. Bowhead Specialty comprises about 1.1% of Steelhead Wealth Management LLC's investment portfolio, making the stock its 23rd biggest position. Steelhead Wealth Management LLC owned approximately 0.29% of Bowhead Specialty at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Langdon Equity Partners acquired a new position in Bowhead Specialty in the fourth quarter valued at approximately $28,000. Raymond James Financial Inc. acquired a new stake in Bowhead Specialty during the 2nd quarter worth $52,000. CWM LLC raised its position in shares of Bowhead Specialty by 257.7% during the 4th quarter. CWM LLC now owns 1,481 shares of the company's stock valued at $42,000 after acquiring an additional 1,067 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Bowhead Specialty by 181.4% during the 1st quarter. Parallel Advisors LLC now owns 1,652 shares of the company's stock valued at $37,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Bowhead Specialty by 99.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,926 shares of the company's stock valued at $72,000 after purchasing an additional 958 shares during the period.

Bowhead Specialty Price Performance

BOW opened at $30.61 on Monday. The stock has a market cap of $1.01 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.92 and a beta of -0.10. Bowhead Specialty Holdings Inc. has a 12 month low of $21.21 and a 12 month high of $33.20. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $29.00 and a 200 day simple moving average of $26.07.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. Bowhead Specialty had a return on equity of 13.80% and a net margin of 9.99%.The firm had revenue of $155.69 million for the quarter, compared to analyst estimates of $211.74 million. On average, research analysts expect that Bowhead Specialty Holdings Inc. will post 1.96 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BOW shares. Citizens Jmp reduced their price target on Bowhead Specialty from $38.00 to $35.00 and set a "market outperform" rating on the stock in a research report on Monday, April 13th. UBS Group set a $28.00 price objective on Bowhead Specialty in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their target price on Bowhead Specialty from $30.00 to $33.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Royal Bank Of Canada raised their target price on Bowhead Specialty from $30.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, July 13th. Finally, Morgan Stanley boosted their target price on Bowhead Specialty from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Bowhead Specialty has a consensus rating of "Moderate Buy" and a consensus target price of $33.71.

About Bowhead Specialty

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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