Bowhead Specialty (NYSE:BOW) Shares Gap Down – Time to Sell?

Bowhead Specialty Holdings Inc. (NYSE:BOW) gapped down prior to trading on Tuesday . The stock had previously closed at $30.56, but opened at $28.71. Bowhead Specialty shares last traded at $29.25, with a volume of 32,844 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently issued reports on BOW. JMP Securities lifted their target price on Bowhead Specialty from $31.00 to $32.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and set a $32.00 price target on shares of Bowhead Specialty in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Bowhead Specialty currently has an average rating of “Hold” and an average target price of $29.40.

Bowhead Specialty Trading Up 0.9 %

The company has a fifty day moving average price of $29.39.

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

Institutional Trading of Bowhead Specialty

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new position in Bowhead Specialty in the 2nd quarter valued at $117,000. Sandia Investment Management LP bought a new stake in Bowhead Specialty during the second quarter valued at $127,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bowhead Specialty during the second quarter worth about $192,000. Davidson Kempner Capital Management LP bought a new position in Bowhead Specialty in the 2nd quarter worth about $253,000. Finally, TD Asset Management Inc purchased a new stake in shares of Bowhead Specialty in the 2nd quarter valued at about $265,000.

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.