Sandia Investment Management LP Makes New $355,000 Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Sandia Investment Management LP purchased a new position in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the company's stock, valued at approximately $355,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. raised its position in Bowhead Specialty by 66.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,218 shares of the company's stock valued at $43,000 after acquiring an additional 486 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Bowhead Specialty during the fourth quarter worth approximately $64,000. US Bancorp DE acquired a new position in Bowhead Specialty during the fourth quarter worth $76,000. KLP Kapitalforvaltning AS acquired a new position in Bowhead Specialty during the fourth quarter worth $107,000. Finally, Pictet Asset Management Holding SA acquired a new position in Bowhead Specialty during the fourth quarter worth $145,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BOW shares. JMP Securities upped their price target on Bowhead Specialty from $38.00 to $40.00 and gave the company a "market outperform" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their price target on Bowhead Specialty from $30.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, April 8th. Piper Sandler assumed coverage on Bowhead Specialty in a research note on Wednesday, April 16th. They set an "overweight" rating and a $44.00 target price on the stock. Finally, Keefe, Bruyette & Woods increased their target price on Bowhead Specialty from $43.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.50.

Insider Buying and Selling

In related news, Director Ava Schnidman bought 1,493 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the purchase, the director now owns 1,893 shares of the company's stock, valued at $63,245.13. This trade represents a 373.25% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bowhead Specialty Price Performance

Shares of NYSE BOW opened at $38.36 on Friday. Bowhead Specialty Holdings Inc. has a 1-year low of $22.14 and a 1-year high of $42.29. The company has a market cap of $1.25 billion and a price-to-earnings ratio of 29.28. The stock's 50-day moving average is $39.18 and its two-hundred day moving average is $35.51.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $174.85 million for the quarter, compared to analyst estimates of $105.17 million. Equities research analysts anticipate 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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