Bowhead Specialty (NYSE:BOW) Sees Strong Trading Volume – Time to Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) saw an uptick in trading volume on Wednesday . Approximately 600,880 shares traded hands during trading, an increase of 179% from the previous session’s volume of 215,080 shares.The stock last traded at $33.57 and had previously closed at $33.48.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Royal Bank Of Canada downgraded Bowhead Specialty from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $38.00 to $34.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut Bowhead Specialty from a “buy” rating to a “hold” rating and set a $34.00 price target for the company. in a report on Monday. JPMorgan Chase & Co. upped their price objective on Bowhead Specialty from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Piper Sandler downgraded Bowhead Specialty from an “overweight” rating to a “hold” rating and set a $34.00 target price for the company. in a research report on Monday. Finally, Citizens Jmp reduced their price target on shares of Bowhead Specialty from $38.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bowhead Specialty presently has an average rating of “Hold” and a consensus target price of $33.00.

Bowhead Specialty Trading Down 1.1%

The stock has a market cap of $1.10 billion, a P/E ratio of 18.11, a P/E/G ratio of 1.01 and a beta of -0.11. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $29.50 and a two-hundred day moving average price of $26.33.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $163.86 million for the quarter, compared to analyst estimates of $278.69 million. Bowhead Specialty had a return on equity of 14.05% and a net margin of 10.11%. On average, research analysts expect that Bowhead Specialty Holdings Inc. will post 1.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Bowhead Specialty

Several institutional investors have recently made changes to their positions in the company. Martingale Asset Management L P lifted its position in shares of Bowhead Specialty by 1.9% during the fourth quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock worth $736,000 after purchasing an additional 484 shares during the last quarter. Invesco Ltd. grew its holdings 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 purchasing an additional 490 shares during the last quarter. Royal Bank of Canada increased its stake in Bowhead Specialty by 45.5% in the 4th quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock worth $59,000 after buying an additional 646 shares during the period. Jump Financial LLC increased its stake in Bowhead Specialty by 6.6% in the 4th quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock worth $310,000 after buying an additional 673 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in Bowhead Specialty by 262.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,037 shares of the company’s stock valued at $31,000 after buying an additional 751 shares in the last quarter.

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.