Cubist Systematic Strategies LLC Invests $385,000 in Bowhead Specialty Holdings Inc. (NYSE:BOW)

Cubist Systematic Strategies LLC purchased a new stake in Bowhead Specialty Holdings Inc. (NYSE:BOW) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,213 shares of the company’s stock, valued at approximately $385,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BOW. Point72 Asset Management L.P. bought a new stake in shares of Bowhead Specialty in the 2nd quarter valued at approximately $117,000. Sandia Investment Management LP bought a new stake in Bowhead Specialty in the second quarter worth $127,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Bowhead Specialty during the second quarter worth $192,000. Davidson Kempner Capital Management LP purchased a new position in Bowhead Specialty during the second quarter worth $253,000. Finally, TD Asset Management Inc bought a new position in Bowhead Specialty during the second quarter valued at $265,000.

Bowhead Specialty Trading Up 2.9 %

NYSE BOW opened at $29.26 on Monday. Bowhead Specialty Holdings Inc. has a one year low of $22.14 and a one year high of $32.55. The firm’s 50-day simple moving average is $28.87.

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

Wall Street Analysts Forecast Growth

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

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.