The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bowhead Specialty Holdings Inc shares valued at $88,033,044 were sold by Botein Matthew on Oct 25 ’24. At $27.70 per share, Botein Matthew sold 3,178,662 shares. The insider’s holdings dropped to 10,968,445 shares worth approximately $396.62 million following the completion of this transaction.
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Also, Gallatin Point Capital LLC sold 3,178,662 shares, netting a total of over 88,033,044 in proceeds. Following the sale of shares at $27.70 each, the insider now holds 10,968,445 shares.
Before that, AMERICAN FAMILY MUTUAL INSURAN had sold 1,362,285 shares from its account. In a trade valued at $37,728,483, the Director traded Bowhead Specialty Holdings Inc shares for $27.70 each. Upon closing the transaction, the insider’s holdings decreased to 1,362,285 shares, worth approximately $169.98 million.
As published in their initiating research note from RBC Capital Mkts on June 17, 2024, Bowhead Specialty Holdings Inc [BOW] has been an Outperform and the price target has been revised to $32. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid June. As of June 17, 2024, Keefe Bruyette has initiated its “Mkt perform” rating for BOW. Earlier on June 17, 2024, JP Morgan initiated its rating. Their recommendation was “a Neutral” for BOW stock.
Analyzing BOW Stock Performance
During the last five days, there has been a surge of approximately 2.90%. Over the course of the year, Bowhead Specialty Holdings Inc shares have jumped approximately 51.93%. Nevertheless, trading volume fell to 0.17 million shares from 0.28 million shares the previous day.
Support And Resistance Levels for Bowhead Specialty Holdings Inc (BOW)
According to the 24-hour chart, there is a support level at 35.84, which, if violated, would cause prices to drop to 35.51. In the upper region, resistance lies at 36.64. The next price resistance is at 37.11. RSI (Relative Strength Index) is 74.63 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.66, which suggests the price will increase in the coming days. Percent R is at 14.68%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
