Slide Insurance Holdings, Inc.’s (NASDAQ:SLDE) Lock-Up Period Will End on December 15th

Slide Insurance’s (NASDAQ:SLDE) lock-up period will expire on Monday, December 15th. Slide Insurance had issued 24,000,000 shares in its initial public offering on June 18th. The total size of the offering was $408,000,000 based on an initial share price of $17.00. After the expiration of Slide Insurance’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

Several research analysts have commented on SLDE shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Slide Insurance in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Morgan Stanley lifted their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Piper Sandler lifted their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Slide Insurance currently has a consensus rating of “Buy” and a consensus price target of $23.17.

Slide Insurance Price Performance

Slide Insurance stock opened at $16.13 on Monday. The business’s 50 day moving average is $15.95. Slide Insurance has a 12 month low of $12.53 and a 12 month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.30. The firm had revenue of $265.69 million during the quarter, compared to analysts’ expectations of $279.36 million.

Slide Insurance announced that its board has approved a stock buyback program on Wednesday, August 27th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. purchased a new position in Slide Insurance during the second quarter worth about $56,229,000. Raymond James Financial Inc. acquired a new position in Slide Insurance during the 2nd quarter worth approximately $33,063,000. Capital World Investors raised its stake in shares of Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after buying an additional 1,483,180 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at approximately $31,542,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Slide Insurance by 314.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock valued at $21,753,000 after buying an additional 1,045,826 shares in the last quarter.

Slide Insurance Company Profile

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”).