Wasatch Advisors LP Sells 451,569 Shares of Bowhead Specialty Holdings Inc. $BOW

Wasatch Advisors LP lowered its stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) by 62.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 270,228 shares of the company’s stock after selling 451,569 shares during the quarter. Wasatch Advisors LP owned approximately 0.82% of Bowhead Specialty worth $6,061,000 as of its most recent SEC filing.

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

Bowhead Specialty Price Performance

BOW stock opened at $29.82 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.47 and a current ratio of 0.47. Bowhead Specialty Holdings Inc. has a 52 week low of $21.21 and a 52 week high of $37.98. The firm’s fifty day moving average is $26.51 and its 200 day moving average is $25.48. The firm has a market cap of $979.42 million and a P/E ratio of 17.24.

Bowhead Specialty (NYSE:BOW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. Bowhead Specialty had a net margin of 9.99% and a return on equity of 13.80%. The business had revenue of $155.69 million during the quarter, compared to the consensus estimate of $211.74 million. Research analysts predict that Bowhead Specialty Holdings Inc. will post 1.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BOW shares. Weiss Ratings upgraded Bowhead Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Piper Sandler increased their price objective on Bowhead Specialty from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. UBS Group set a $28.00 target price on shares of Bowhead Specialty in a research report on Thursday, May 21st. Morgan Stanley upped their target price on shares of Bowhead Specialty from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, Keefe, Bruyette & Woods increased their target price on Bowhead Specialty from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.43.

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.