Bowhead Specialty Holdings Inc. (NYSE:BOW) Short Interest Update

Bowhead Specialty Holdings Inc. (NYSE:BOW) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 679,310 shares, a drop of 28.5% from the February 26th total of 950,096 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 219,744 shares, the days-to-cover ratio is currently 3.1 days.

Analysts Set New Price Targets

Several research analysts have issued reports on BOW shares. Keefe, Bruyette & Woods upgraded Bowhead Specialty from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, March 16th. Piper Sandler boosted their target price on shares of Bowhead Specialty from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Zacks Research upgraded shares of Bowhead Specialty from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada cut their price target on shares of Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Bowhead Specialty Price Performance

BOW stock traded down $0.75 during midday trading on Friday, reaching $21.73. 140,423 shares of the company’s stock traded hands, compared to its average volume of 204,538. The company has a 50-day simple moving average of $24.05 and a two-hundred day simple moving average of $25.76. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.33. Bowhead Specialty has a 1-year low of $21.21 and a 1-year high of $42.29. The company has a market cap of $713.48 million, a price-to-earnings ratio of 13.66, a PEG ratio of 0.66 and a beta of -1.06.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The company had revenue of $151.68 million for the quarter, compared to analyst estimates of $145.99 million. Bowhead Specialty had a return on equity of 13.27% and a net margin of 9.75%. On average, analysts anticipate that Bowhead Specialty will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Bowhead Specialty

A number of hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its holdings in Bowhead Specialty by 61.4% during the 4th quarter. Hsbc Holdings PLC now owns 12,736 shares of the company’s stock worth $362,000 after acquiring an additional 4,844 shares during the last quarter. Invesco Ltd. raised its stake in shares of Bowhead Specialty by 3.5% in the fourth quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock worth $413,000 after acquiring an additional 490 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of Bowhead Specialty by 21.7% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 39,346 shares of the company’s stock worth $1,123,000 after purchasing an additional 7,005 shares in the last quarter. Interval Partners LP acquired a new position in shares of Bowhead Specialty during the fourth quarter worth approximately $950,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of Bowhead Specialty by 122.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 251,893 shares of the company’s stock valued at $7,189,000 after purchasing an additional 138,524 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.