Voleon Capital Management LP Makes New Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Voleon Capital Management LP acquired a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 153,543 shares of the company's stock, valued at approximately $5,454,000. Voleon Capital Management LP owned approximately 0.47% of Bowhead Specialty as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BOW. State Street Corp purchased a new position in shares of Bowhead Specialty during the third quarter valued at about $1,426,000. Barclays PLC purchased a new position in shares of Bowhead Specialty during the third quarter valued at about $479,000. Geode Capital Management LLC purchased a new position in shares of Bowhead Specialty during the third quarter valued at about $4,691,000. Lord Abbett & CO. LLC grew its position in shares of Bowhead Specialty by 10.9% during the third quarter. Lord Abbett & CO. LLC now owns 257,870 shares of the company's stock valued at $7,223,000 after purchasing an additional 25,304 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Bowhead Specialty during the third quarter valued at about $1,382,000.

Wall Street Analyst Weigh In

BOW has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Bowhead Specialty from $30.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 8th. JMP Securities lifted their price target on Bowhead Specialty from $38.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Friday, April 11th. Piper Sandler initiated coverage on shares of Bowhead Specialty in a research note on Wednesday, April 16th. They issued an "overweight" rating and a $44.00 price objective for the company. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Bowhead Specialty from $44.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, April 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 company presently has an average rating of "Moderate Buy" and an average price target of $37.17.

Insider Activity

In related news, Director Ava Schnidman purchased 1,493 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was purchased 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 owns 1,893 shares of the company's stock, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Bowhead Specialty Stock Up 1.2 %

Bowhead Specialty stock opened at $40.90 on Wednesday. The company has a 50 day moving average price of $37.58 and a 200-day moving average price of $34.70. Bowhead Specialty Holdings Inc. has a fifty-two week low of $22.14 and a fifty-two week high of $42.29.

Bowhead Specialty (NYSE:BOW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.07. The company had revenue of $184.77 million for the quarter, compared to the consensus estimate of $102.12 million. As a group, analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current 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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