Trexquant Investment LP Increases Stake in Bowhead Specialty Holdings Inc. $BOW

Key Points

• Trexquant Investment LP increased its stake in Bowhead Specialty Holdings by 242.6% during the first quarter, owning 39,432 shares valued at approximately $1.6 million.
• Bowhead Specialty's stock rating consensus is a "Moderate Buy" with a target price of $38.33, following recent upgrades and price adjustments from various analysts.
• In a significant insider transaction, Director Matthew Botein and another director each sold 2 million shares at $30.66, reducing their ownership by 18.23%.

Trexquant Investment LP grew its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 242.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,432 shares of the company's stock after acquiring an additional 27,923 shares during the quarter. Trexquant Investment LP owned about 0.12% of Bowhead Specialty worth $1,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BOW. SBI Securities Co. Ltd. acquired a new stake in shares of Bowhead Specialty in the 1st quarter worth $44,000. Nemes Rush Group LLC acquired a new stake in shares of Bowhead Specialty in the 1st quarter worth $61,000. GAMMA Investing LLC increased its stake in shares of 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 acquiring an additional 3,290 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Bowhead Specialty in the 4th quarter worth $233,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Bowhead Specialty by 66.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,587 shares of the company's stock worth $234,000 after purchasing an additional 2,625 shares during the last quarter.

Bowhead Specialty Trading Down 0.1%

Bowhead Specialty stock traded down $0.03 during midday trading on Thursday, reaching $28.95. 234,011 shares of the stock traded hands, compared to its average volume of 307,246. The company has a 50-day simple moving average of $32.07 and a two-hundred day simple moving average of $35.73. Bowhead Specialty Holdings Inc. has a 12-month low of $27.07 and a 12-month high of $42.29. The firm has a market cap of $948.95 million, a PE ratio of 19.69 and a beta of -0.71.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BOW. Zacks Research raised Bowhead Specialty from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Morgan Stanley cut their price objective on Bowhead Specialty from $37.00 to $34.00 and set an "equal weight" rating for the company in a research report on Monday, August 18th. Deutsche Bank Aktiengesellschaft began coverage on Bowhead Specialty in a research report on Friday, August 8th. They set a "buy" rating for the company. Finally, 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, August 12th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Bowhead Specialty presently has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Insider Transactions at Bowhead Specialty

In related news, Director Gallatin Point Capital Llc sold 2,000,000 shares of the firm's stock in a transaction dated 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 position. The sale 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 firm's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here.

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.