HB Wealth Management LLC Buys New Position in Slide Insurance Holdings, Inc. $SLDE

HB Wealth Management LLC purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 60,484 shares of the company’s stock, valued at approximately $955,000.

A number of other institutional investors also recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in shares of Slide Insurance in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Slide Insurance in the second quarter worth approximately $53,000. Man Group plc bought a new position in Slide Insurance during the 2nd quarter valued at $210,000. HBK Investments L P acquired a new position in shares of Slide Insurance during the 2nd quarter valued at $217,000. Finally, Levin Capital Strategies L.P. bought a new stake in shares of Slide Insurance in the 2nd quarter worth $217,000.

Slide Insurance Price Performance

NASDAQ SLDE opened at $17.65 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.04. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a market cap of $2.19 billion and a PE ratio of 13.07. The stock’s 50-day moving average price is $17.61 and its two-hundred day moving average price is $16.74.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Wednesday, November 5th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.49 by $0.30. The firm had revenue of $265.69 million during the quarter, compared to analyst estimates of $279.36 million.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SLDE shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Morgan Stanley lifted their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Keefe, Bruyette & Woods increased their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Piper Sandler raised their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $23.17.

Slide Insurance 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”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.