Bowhead Specialty Holdings Inc.’s (NYSE:BOW) Lock-Up Period Set To Expire on November 19th

Bowhead Specialty’s (NYSE:BOW) lock-up period will expire on Tuesday, November 19th. Bowhead Specialty had issued 7,529,412 shares in its IPO on May 23rd. The total size of the offering was $128,000,004 based on an initial share price of $17.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

BOW has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. JMP Securities upped their target price on shares of Bowhead Specialty from $32.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.40.

Bowhead Specialty Stock Down 0.2 %

Shares of BOW opened at $33.54 on Friday. Bowhead Specialty has a 12-month low of $22.14 and a 12-month high of $34.49. The firm has a 50-day moving average price of $29.78.

Bowhead Specialty (NYSE:BOW) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $116.76 million during the quarter, compared to analysts’ expectations of $113.00 million. Equities research analysts anticipate that Bowhead Specialty will post 1.38 EPS for the current year.

Insider Activity at Bowhead Specialty

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $27.70, for a total value of $37,735,294.50. Following the transaction, the director now owns 4,700,761 shares of the company’s stock, valued at $130,211,079.70. This represents a 22.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BOW. Allspring Global Investments Holdings LLC acquired a new position in Bowhead Specialty in the second quarter valued at about $2,770,000. Peregrine Capital Management LLC acquired a new stake in shares of Bowhead Specialty during the second quarter worth about $3,073,000. TD Asset Management Inc acquired a new stake in shares of Bowhead Specialty during the second quarter worth about $265,000. Victory Capital Management Inc. acquired a new stake in shares of Bowhead Specialty during the second quarter worth about $15,973,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bowhead Specialty during the second quarter worth about $4,901,000.

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.