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

Bowhead Specialty’s (NYSE:BOW) lock-up period is set to expire on Tuesday, November 19th. Bowhead Specialty had issued 7,529,412 shares in its public offering 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.

Analysts Set New Price Targets

Several research analysts have weighed in on BOW shares. JPMorgan Chase & Co. upped their target price on shares of Bowhead Specialty from $26.00 to $30.00 and gave the stock a “neutral” rating in a research 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 research report on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.40.

Bowhead Specialty Trading Up 1.2 %

Shares of BOW opened at $33.24 on Tuesday. The firm’s 50 day moving average price is $29.53. Bowhead Specialty has a 1 year low of $22.14 and a 1 year high of $34.09.

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 the consensus estimate of $0.38. The firm had revenue of $116.76 million for the quarter, compared to analysts’ expectations of $113.00 million. On average, equities analysts predict that Bowhead Specialty will post 1.33 EPS for the current year.

Insider Activity at Bowhead Specialty

In related news, Director Family Mutual Insuran American sold 1,362,285 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 4,700,761 shares of the company’s stock, valued at approximately $130,211,079.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. acquired a new position in Bowhead Specialty during the second quarter worth approximately $23,148,000. Victory Capital Management Inc. increased its position in Bowhead Specialty by 4.5% during the third quarter. Victory Capital Management Inc. now owns 658,595 shares of the company’s stock worth $18,447,000 after purchasing an additional 28,235 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in Bowhead Specialty during the second quarter worth approximately $7,866,000. Emerald Advisers LLC increased its position in Bowhead Specialty by 3.3% during the third quarter. Emerald Advisers LLC now owns 242,633 shares of the company’s stock worth $6,796,000 after purchasing an additional 7,683 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its position in Bowhead Specialty by 0.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 194,333 shares of the company’s stock worth $5,443,000 after purchasing an additional 937 shares during the last quarter.

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.