Bowhead Specialty Holdings Inc. (NYSE:BOW) Sees Significant Increase in Short Interest

Bowhead Specialty Holdings Inc. (NYSE:BOW) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 454,200 shares, an increase of 19.0% from the January 15th total of 381,600 shares. Based on an average daily trading volume, of 154,100 shares, the short-interest ratio is currently 2.9 days. Approximately 2.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Bowhead Specialty

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. bought a new position in shares of Bowhead Specialty during the third quarter valued at approximately $1,829,000. Geode Capital Management LLC purchased a new position in Bowhead Specialty during the 3rd quarter valued at $4,691,000. Barclays PLC bought a new position in Bowhead Specialty in the 3rd quarter worth $479,000. JPMorgan Chase & Co. purchased a new stake in shares of Bowhead Specialty in the 3rd quarter worth about $1,382,000. Finally, Victory Capital Management Inc. lifted its position in shares of Bowhead Specialty by 4.5% in the 3rd 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 period.

Bowhead Specialty Price Performance

NYSE BOW opened at $32.03 on Monday. Bowhead Specialty has a 1 year low of $22.14 and a 1 year high of $37.81. The business’s 50-day moving average is $33.58 and its 200 day moving average is $31.61.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BOW. JMP Securities raised their price objective on Bowhead Specialty from $32.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price target on Bowhead Specialty from $36.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, January 10th. Royal Bank of Canada boosted their price objective on Bowhead Specialty from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.60.

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.