Cubist Systematic Strategies LLC Makes New Investment in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Cubist Systematic Strategies LLC acquired a new stake in shares of Bowhead Specialty Holdings Inc. (NYSE:BOW) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 15,213 shares of the company’s stock, valued at approximately $385,000.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. initiated coverage on Bowhead Specialty in a research report on Monday, June 17th. They set a “neutral” rating and a $27.00 price target on the stock. JMP Securities began coverage on Bowhead Specialty in a research note on Monday, June 17th. They set an “outperform” rating and a $31.00 target price for the company. Morgan Stanley began coverage on shares of Bowhead Specialty in a report on Monday, June 17th. They issued an “equal weight” rating and a $26.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Bowhead Specialty in a report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods began coverage on shares of Bowhead Specialty in a research report on Monday, June 17th. They set a “market perform” rating and a $30.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.20.

Bowhead Specialty Stock Up 2.9 %

Bowhead Specialty stock opened at $29.26 on Monday. The business’s fifty day simple moving average is $28.87. Bowhead Specialty Holdings Inc. has a 52-week low of $22.14 and a 52-week high of $32.55.

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