Short Interest in Bowhead Specialty Holdings Inc. (NYSE:BOW) Rises By 140.6%

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 703,400 shares, a growth of 140.6% from the March 15th total of 292,300 shares. Based on an average daily volume of 223,700 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.6% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BOW shares. JMP Securities increased their price objective 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. Keefe, Bruyette & Woods reduced their price target on shares of Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler assumed coverage on shares of Bowhead Specialty in a report on Wednesday. They issued an "overweight" rating and a $44.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Bowhead Specialty currently has an average rating of "Moderate Buy" and an average target price of $37.17.

Bowhead Specialty Trading Up 0.8 %

Shares of NYSE:BOW traded up $0.31 during trading on Friday, reaching $40.14. 210,798 shares of the stock traded hands, compared to its average volume of 212,890. The stock has a 50-day moving average of $36.43 and a two-hundred day moving average of $34.14. Bowhead Specialty has a 52-week low of $22.14 and a 52-week high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.07. The business had revenue of $184.77 million during the quarter, compared to analysts' expectations of $102.12 million. On average, equities research analysts forecast that Bowhead Specialty will post 1.36 earnings per share for the current fiscal year.

Insider Activity at Bowhead Specialty

In related news, Director Ava Schnidman bought 1,493 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the transaction, the director now owns 1,893 shares of the company's stock, valued at approximately $63,245.13. The trade was a 373.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Bowhead Specialty

Several hedge funds have recently bought and sold shares of the stock. Gallatin Point Capital LLC purchased a new position in shares of Bowhead Specialty in the fourth quarter valued at about $389,599,000. Victory Capital Management Inc. boosted its stake in Bowhead Specialty by 129.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,508,003 shares of the company's stock worth $53,564,000 after purchasing an additional 849,408 shares during the period. Wasatch Advisors LP grew its holdings in Bowhead Specialty by 125.3% during the 4th quarter. Wasatch Advisors LP now owns 812,901 shares of the company's stock valued at $28,874,000 after buying an additional 452,033 shares in the last quarter. Polar Capital Holdings Plc raised its position in shares of Bowhead Specialty by 160.3% during the fourth quarter. Polar Capital Holdings Plc now owns 550,000 shares of the company's stock valued at $19,536,000 after buying an additional 338,738 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Bowhead Specialty by 274.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 314,684 shares of the company's stock worth $11,178,000 after buying an additional 230,722 shares in the last quarter.

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.