Bowhead Specialty (NYSE:BOW) Hits New 12-Month Low – What’s Next?

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $23.50 and last traded at $22.3150, with a volume of 23823 shares trading hands. The stock had previously closed at $24.79.

Analyst Upgrades and Downgrades

BOW has been the subject of a number of research reports. Keefe, Bruyette & Woods decreased their price target on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, January 6th. Royal Bank Of Canada started coverage on shares of Bowhead Specialty in a research report on Monday, November 24th. They issued an “outperform” rating and a $33.00 price target on the stock. Piper Sandler raised their price objective on shares of Bowhead Specialty from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bowhead Specialty in a report on Monday, December 29th. Finally, Morgan Stanley decreased their price target on shares of Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, November 17th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.83.

Bowhead Specialty Stock Performance

The firm’s 50 day simple moving average is $25.90 and its 200-day simple moving average is $27.04. The company has a market capitalization of $749.22 million, a price-to-earnings ratio of 14.82, a P/E/G ratio of 0.81 and a beta of -1.05.

Bowhead Specialty (NYSE:BOW) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $151.68 million for the quarter, compared to the consensus estimate of $145.99 million. Bowhead Specialty had a return on equity of 13.53% and a net margin of 10.12%. As a group, equities analysts anticipate that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of Bowhead Specialty

A number of hedge funds have recently made changes to their positions in BOW. Langdon Equity Partners acquired a new position in Bowhead Specialty in the 4th quarter valued at approximately $28,000. State of Alaska Department of Revenue purchased a new position in shares of Bowhead Specialty during the 3rd quarter valued at $42,000. CWM LLC raised its holdings in shares of Bowhead Specialty by 257.7% during the fourth quarter. CWM LLC now owns 1,481 shares of the company’s stock worth $42,000 after acquiring an additional 1,067 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Bowhead Specialty during the second quarter valued at $52,000. Finally, Royal Bank of Canada grew its stake in Bowhead Specialty by 45.5% in the fourth quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock valued at $59,000 after purchasing an additional 646 shares in 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.