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

Bowhead Specialty’s (NYSE:BOW) lock-up period will end 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. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BOW. JPMorgan Chase & Co. increased their target price on Bowhead Specialty from $26.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods increased their target price on Bowhead Specialty from $30.00 to $33.00 and gave the company a “market perform” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased their target price on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, JMP Securities increased their target price on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.40.

Bowhead Specialty Stock Performance

Shares of BOW opened at $33.70 on Tuesday. The business has a fifty day moving average price of $29.78. Bowhead Specialty has a twelve month low of $22.14 and a twelve month high of $34.49.

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

Insider Buying and Selling at Bowhead Specialty

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BOW. Peregrine Capital Management LLC acquired a new stake in shares of Bowhead Specialty during the second quarter valued at about $3,073,000. Lighthouse Investment Partners LLC acquired a new position in Bowhead Specialty in the second quarter worth about $2,653,000. Sei Investments Co. acquired a new position in Bowhead Specialty in the second quarter worth about $2,021,000. The Manufacturers Life Insurance Company acquired a new position in Bowhead Specialty in the second quarter worth about $1,458,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in Bowhead Specialty in the second quarter worth about $4,901,000.

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.