Bowhead Specialty (NYSE:BOW) Sets New 52-Week Low – What’s Next?

Shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) hit a new 52-week low during trading on Tuesday . The company 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.

Wall Street Analyst Weigh In

BOW has been the subject of several recent research reports. Morgan Stanley lowered their price target on Bowhead Specialty from $31.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, November 17th. Keefe, Bruyette & Woods decreased their target price on Bowhead Specialty from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, January 6th. Royal Bank Of Canada reduced their price target on Bowhead Specialty from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bowhead Specialty in a research report on Monday, December 29th. Finally, Piper Sandler boosted their target price on shares of Bowhead Specialty from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.33.

Bowhead Specialty Stock Performance

The company has a market capitalization of $816.06 million, a PE ratio of 15.66, a PEG ratio of 0.77 and a beta of -1.05. The company has a 50 day moving average price of $25.79 and a 200 day moving average price of $26.99.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The firm had revenue of $151.68 million for the quarter, compared to analysts’ expectations of $145.99 million. Bowhead Specialty had a net margin of 9.75% and a return on equity of 13.58%. On average, equities analysts forecast that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current fiscal year.

Institutional Trading of Bowhead Specialty

Hedge funds and other institutional investors have recently bought and sold shares of the company. Martingale Asset Management L P lifted its holdings in Bowhead Specialty by 1.9% during the 4th quarter. Martingale Asset Management L P now owns 25,791 shares of the company’s stock worth $736,000 after buying an additional 484 shares during the last quarter. Invesco Ltd. raised its position in shares of Bowhead Specialty by 3.5% during the 4th quarter. Invesco Ltd. now owns 14,484 shares of the company’s stock valued at $413,000 after acquiring an additional 490 shares in the last quarter. Royal Bank of Canada lifted its stake in Bowhead Specialty by 45.5% during the fourth quarter. Royal Bank of Canada now owns 2,065 shares of the company’s stock worth $59,000 after purchasing an additional 646 shares during the last quarter. Jump Financial LLC boosted its holdings in Bowhead Specialty by 6.6% in the fourth quarter. Jump Financial LLC now owns 10,860 shares of the company’s stock worth $310,000 after purchasing an additional 673 shares during the period. Finally, Langdon Equity Partners bought a new stake in Bowhead Specialty during the fourth quarter valued at $28,000.

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.