Bowhead Specialty (NYSE:BOW) Hits New 52-Week High – Still a Buy?

Bowhead Specialty Holdings Inc. (NYSE:BOW) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.81 and last traded at $37.61, with a volume of 41195 shares changing hands. The stock had previously closed at $36.52.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded Bowhead Specialty from a “market perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Bowhead Specialty currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.60.

Bowhead Specialty Trading Down 0.0 %

The stock has a 50-day simple moving average of $33.11 and a two-hundred day simple moving average of $32.44.

Bowhead Specialty (NYSE:BOW) last issued its earnings results on Tuesday, February 25th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.07. The firm had revenue of $184.77 million for the quarter, compared to the consensus estimate of $102.12 million. On average, equities research analysts predict that Bowhead Specialty Holdings Inc. will post 1.36 earnings per share for the current year.

Insider Transactions at Bowhead Specialty

In related news, Director Ava Schnidman purchased 1,493 shares of Bowhead Specialty stock in a transaction dated Friday, February 28th. The stock was purchased at an average cost of $33.41 per share, with a total value of $49,881.13. Following the transaction, the director now owns 1,893 shares in the company, valued at approximately $63,245.13. The trade was a 373.25 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. bought a new position in shares of Bowhead Specialty in the 3rd quarter worth $1,829,000. Geode Capital Management LLC acquired a new position in Bowhead Specialty during the 3rd quarter valued at about $4,691,000. Barclays PLC acquired a new position in Bowhead Specialty during the 3rd quarter valued at about $479,000. Rhumbline Advisers increased its position in Bowhead Specialty by 89.5% during the 4th quarter. Rhumbline Advisers now owns 12,601 shares of the company’s stock valued at $448,000 after buying an additional 5,953 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in Bowhead Specialty during the 3rd quarter valued at about $1,382,000.

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.