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

Bowhead Specialty’s (NYSE:BOW) lock-up period will expire on Tuesday, November 19th. Bowhead Specialty had issued 7,529,412 shares in its initial 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 company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Analyst Upgrades and Downgrades

BOW has been the topic of a number of recent research reports. 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 note on Thursday, November 7th. Royal Bank of Canada upped their target price on shares of Bowhead Specialty from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. 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 note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Bowhead Specialty from $30.00 to $33.00 and gave the stock a “market perform” rating in a research note 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. Based on data from MarketBeat, Bowhead Specialty presently has a consensus rating of “Hold” and an average price target of $31.40.

Bowhead Specialty Stock Performance

BOW stock opened at $33.54 on Friday. Bowhead Specialty has a twelve month low of $22.14 and a twelve month high of $34.49. The business’s 50 day moving average is $29.78.

Bowhead Specialty (NYSE:BOW) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. The company had revenue of $116.76 million for the quarter, compared to analyst estimates of $113.00 million. As a group, analysts predict that Bowhead Specialty will post 1.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Family Mutual Insuran American sold 1,362,285 shares of Bowhead Specialty stock in a transaction on Friday, October 25th. The shares were 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. The trade was a 22.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Bowhead Specialty

Institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in shares of Bowhead Specialty in the 2nd quarter valued at $117,000. MetLife Investment Management LLC acquired a new position in shares of Bowhead Specialty in the 3rd quarter valued at $123,000. Sandia Investment Management LP purchased a new position in Bowhead Specialty in the 2nd quarter valued at $127,000. New Vernon Investment Management LLC purchased a new position in Bowhead Specialty in the 3rd quarter valued at $127,000. Finally, Quantbot Technologies LP purchased a new position in Bowhead Specialty in the 3rd quarter valued at $157,000.

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.