Short Interest in Bowhead Specialty Holdings Inc. (NYSE:BOW) Increases by 19.0%

Bowhead Specialty Holdings Inc. (NYSE:BOW - Get Free Report) saw a substantial rise in short interest in January. By January 31st, short interest had climbed to 454,200 shares, marking a 19.0% increase from the January 15th count of 381,600 shares. Currently, short sales account for 2.1% of the company's total shares. Given an average daily trading volume of 154,100 shares, the days-to-cover ratio stands at 2.9 days.

Institutional Trading in Bowhead Specialty

Several hedge funds have adjusted their holdings in Bowhead Specialty. Notably, Gallatin Point Capital LLC acquired a new position in the company during the fourth quarter, investing about $389,599,000. Similarly, American Family Investments Inc. acquired shares worth approximately $169,826,000 in the third quarter. Victory Capital Management Inc. boosted its stake by 129.0% in the fourth quarter, owning 1,508,003 shares valued at $53,564,000 after adding 849,408 shares. Wasatch Advisors LP also raised its position by 125.3%, now holding 812,901 shares valued at $28,874,000, following the addition of 452,033 shares. Furthermore, Vanguard Group Inc. increased its holdings by 55.1%, possessing 647,182 shares valued at $22,988,000 after acquiring an additional 230,039 shares.

Bowhead Specialty Stock Performance

During mid-day trading on Friday, shares of NYSE BOW dropped by $0.80, settling at $32.03. The trading volume reached 91,147 shares, surpassing the average volume of 81,617. The stock's fifty-day moving average is $33.58, while the two-hundred-day average stands at $31.56. Over the last twelve months, Bowhead Specialty has seen a low of $22.14 and a high of $37.81.

Changes in Analyst Ratings

Bowhead Specialty has been featured in numerous research reports recently. For example, JPMorgan Chase & Co. raised its price target from $26.00 to $30.00 and rated the stock as "neutral" in a report dated November 7th. Keefe, Bruyette & Woods revised their target price from $36.00 to $44.00, labeling the company "market perform" on January 10th. JMP Securities also adjusted their target price from $32.00 to $33.00 while rating the stock as "market outperform" on November 6th. Additionally, Royal Bank of Canada increased its target from $32.00 to $35.00, giving it an "outperform" rating, also on November 6th. Currently, three analysts rate the stock as a hold, while two recommend it as a buy. Based on data from MarketBeat.com, Bowhead Specialty holds an average rating of "Hold" along with a consensus price target of $33.60.

Bowhead Specialty Company Overview

Bowhead Specialty Holdings Inc. specializes in providing property and casualty insurance products across the United States. The company underwrites various insurance solutions, including casualty insurance for construction, distribution, heavy manufacturing, real estate, and hospitality sectors; professional liability insurance for financial institutions, and liability insurance for directors and officers, errors and omissions, as well as cyber risks; and healthcare solutions for hospitals, senior care facilities, and managed care organizations.

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