Bowhead Specialty (NYSE:BOW) Stock Price Up 5% After Analyst Upgrade

Bowhead Specialty Holdings Inc. (NYSE:BOW)’s stock price rose 5% on Tuesday after JMP Securities raised their price target on the stock from $31.00 to $32.00. JMP Securities currently has a market outperform rating on the stock. Bowhead Specialty traded as high as $30.60 and last traded at $30.60. Approximately 14,051 shares traded hands during trading, a decline of 91% from the average daily volume of 155,975 shares. The stock had previously closed at $29.14.

A number of other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Bowhead Specialty in a research note on Monday, June 17th. They set a “neutral” rating and a $27.00 price objective for the company. Keefe, Bruyette & Woods assumed coverage on Bowhead Specialty in a report on Monday, June 17th. They issued a “market perform” rating and a $30.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price objective on shares of Bowhead Specialty in a research report on Wednesday, August 7th. Finally, Morgan Stanley began coverage on Bowhead Specialty in a research report on Monday, June 17th. They set an “equal weight” rating and a $26.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.40.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. American Century Companies Inc. purchased a new stake in shares of Bowhead Specialty in the second quarter valued at $23,148,000. Victory Capital Management Inc. acquired a new position in shares of Bowhead Specialty during the 2nd quarter valued at about $15,973,000. Driehaus Capital Management LLC acquired a new position in shares of Bowhead Specialty during the 2nd quarter valued at about $7,866,000. Emerald Advisers LLC purchased a new position in shares of Bowhead Specialty during the 2nd quarter worth about $5,954,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bowhead Specialty in the second quarter worth approximately $4,901,000.

Bowhead Specialty Stock Performance

The stock’s fifty day moving average is $29.05.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $98.90 million for the quarter, compared to analyst estimates of $94.28 million. The business’s revenue for the quarter was up 51.0% on a year-over-year basis. As a group, analysts forecast that Bowhead Specialty Holdings Inc. will post 1.3 EPS for the current fiscal year.

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.