Schonfeld Strategic Advisors LLC Sells 12,570 Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW)

Schonfeld Strategic Advisors LLC trimmed its holdings in Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) by 63.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,200 shares of the company's stock after selling 12,570 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Bowhead Specialty were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gallatin Point Capital LLC acquired a new position in Bowhead Specialty during the fourth quarter valued at approximately $389,599,000. Victory Capital Management Inc. raised its position in Bowhead Specialty by 129.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company's stock valued at $53,564,000 after purchasing an additional 849,408 shares in the last quarter. American Century Companies Inc. raised its position in Bowhead Specialty by 3.6% during the fourth quarter. American Century Companies Inc. now owns 953,549 shares of the company's stock valued at $33,870,000 after purchasing an additional 32,792 shares in the last quarter. Wasatch Advisors LP raised its position in Bowhead Specialty by 125.3% during the fourth quarter. Wasatch Advisors LP now owns 812,901 shares of the company's stock valued at $28,874,000 after purchasing an additional 452,033 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Bowhead Specialty by 55.1% during the fourth quarter. Vanguard Group Inc. now owns 647,182 shares of the company's stock valued at $22,988,000 after purchasing an additional 230,039 shares in the last quarter.

Bowhead Specialty Stock Up 0.8%

Shares of NYSE BOW traded up $0.30 during midday trading on Monday, reaching $38.71. 292,902 shares of the company were exchanged, compared to its average volume of 217,895. The stock's 50-day moving average price is $39.26 and its 200-day moving average price is $35.66. The stock has a market cap of $1.26 billion and a P/E ratio of 29.55. Bowhead Specialty Holdings Inc. has a one year low of $22.14 and a one year high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. The company had revenue of $174.85 million for the quarter, compared to the consensus estimate of $105.17 million. On average, equities research analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 EPS for the current year.

Insiders Place Their Bets

In other Bowhead Specialty news, Director Ava Schnidman acquired 1,493 shares of Bowhead Specialty stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $33.41 per share, with a total value of $49,881.13. Following the completion of the purchase, the director now directly owns 1,893 shares in the company, 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 available at the SEC website.

Analyst Upgrades and Downgrades

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

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.