Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Down 8.5% in October

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 343,700 shares, a decline of 8.5% from the October 15th total of 375,700 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 206,100 shares, the short-interest ratio is currently 1.7 days.

Bowhead Specialty Stock Performance

Bowhead Specialty stock traded up $0.16 during mid-day trading on Monday, hitting $33.70. The company’s stock had a trading volume of 96,946 shares, compared to its average volume of 186,811. Bowhead Specialty has a 1 year low of $22.14 and a 1 year high of $34.49. The business has a fifty day moving average price of $29.78.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The business had revenue of $116.76 million during the quarter, compared to analysts’ expectations of $113.00 million. Analysts forecast that Bowhead Specialty will post 1.38 EPS for the current year.

Analyst Ratings Changes

BOW has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. JMP Securities upped their price target on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 6th. Keefe, Bruyette & Woods upped their price target on Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada upped their price target on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.40.

Insiders Place Their Bets

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. The trade was a 22.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BOW. American Family Investments Inc. acquired a new position in Bowhead Specialty during the third quarter worth $169,826,000. American Century Companies Inc. acquired a new position in Bowhead Specialty during the second quarter worth $23,148,000. Victory Capital Management Inc. lifted its stake in Bowhead Specialty by 4.5% during the third quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock worth $18,447,000 after purchasing an additional 28,235 shares in the last quarter. Wasatch Advisors LP lifted its stake in Bowhead Specialty by 16.9% during the third quarter. Wasatch Advisors LP now owns 360,868 shares of the company’s stock worth $10,108,000 after purchasing an additional 52,296 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Bowhead Specialty during the second quarter worth $7,866,000.

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.