Emerald Advisers LLC Increases Stake in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Emerald Advisers LLC boosted its stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 242,633 shares of the company’s stock after buying an additional 7,683 shares during the period. Emerald Advisers LLC’s holdings in Bowhead Specialty were worth $6,796,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in shares of Bowhead Specialty in the 2nd quarter worth about $117,000. Sandia Investment Management LP purchased a new stake in Bowhead Specialty in the second quarter worth about $127,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Bowhead Specialty during the second quarter valued at approximately $192,000. Davidson Kempner Capital Management LP purchased a new position in shares of Bowhead Specialty during the second quarter valued at approximately $253,000. Finally, TD Asset Management Inc bought a new stake in shares of Bowhead Specialty in the 2nd quarter worth approximately $265,000.

Insider Buying and Selling

In other Bowhead Specialty news, Director Family Mutual Insuran American sold 1,362,285 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $27.70, for a total transaction of $37,735,294.50. Following the completion of the sale, the director now directly owns 4,700,761 shares in the company, valued at approximately $130,211,079.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BOW shares. JMP Securities lifted their price objective on Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price target on shares of Bowhead Specialty in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a research note on Tuesday, October 29th. Three 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 an average price target of $30.00.

Bowhead Specialty Stock Performance

Shares of NYSE:BOW opened at $29.38 on Monday. Bowhead Specialty Holdings Inc. has a 1 year low of $22.14 and a 1 year high of $32.55. The firm’s fifty day simple moving average is $29.49.

Bowhead Specialty (NYSE:BOW) last posted its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $98.90 million for the quarter, compared to the consensus estimate of $94.28 million. The business’s quarterly revenue was up 51.0% on a year-over-year basis. On average, research analysts predict that Bowhead Specialty Holdings Inc. will post 1.3 earnings per share for the current fiscal year.

About Bowhead Specialty

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.