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

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 703,400 shares, an increase of 140.6% from the March 15th total of 292,300 shares. Currently, 3.6% of the company’s shares are short sold. Based on an average daily volume of 223,700 shares, the short-interest ratio is presently 3.1 days.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Bowhead Specialty from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 8th. JMP Securities upped their price target 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. Finally, Keefe, Bruyette & Woods decreased 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. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Bowhead Specialty has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Bowhead Specialty Price Performance

Shares of Bowhead Specialty stock traded up $0.12 during trading on Tuesday, hitting $39.79. The stock had a trading volume of 330,433 shares, compared to its average volume of 212,234. Bowhead Specialty has a 12 month low of $22.14 and a 12 month high of $42.29. The firm’s fifty day simple moving average is $35.89 and its 200-day simple moving average is $33.85.

Bowhead Specialty (NYSE:BOW) last announced its 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 firm had revenue of $184.77 million during the quarter, compared to analyst estimates of $102.12 million. As a group, equities research analysts forecast that Bowhead Specialty will post 1.36 EPS for the current year.

Insider Transactions at Bowhead Specialty

In other Bowhead Specialty news, Director Ava Schnidman purchased 1,493 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $33.41 per share, for a total transaction of $49,881.13. Following the completion of the acquisition, the director now owns 1,893 shares of the company’s stock, valued at $63,245.13. The trade was a 373.25 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. acquired a new position in shares of Bowhead Specialty during the 3rd quarter worth approximately $1,829,000. Geode Capital Management LLC purchased a new position in shares of Bowhead Specialty in the third quarter valued at approximately $4,691,000. Barclays PLC acquired a new stake in Bowhead Specialty in the third quarter valued at approximately $479,000. Bank of New York Mellon Corp increased its holdings in Bowhead Specialty by 180.6% in the fourth quarter. Bank of New York Mellon Corp now owns 29,550 shares of the company’s stock valued at $1,050,000 after buying an additional 19,018 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Bowhead Specialty by 89.5% during the 4th quarter. Rhumbline Advisers now owns 12,601 shares of the company’s stock worth $448,000 after buying an additional 5,953 shares during the last quarter.

About Bowhead Specialty

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.