Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have received an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $22.80.

Several analysts have recently weighed in on the company. Piper Sandler boosted their price target on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Morgan Stanley boosted 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 Monday, November 17th. Keefe, Bruyette & Woods raised their price target 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Finally, Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th.

Slide Insurance Trading Down 1.2%

Shares of SLDE stock opened at $16.67 on Tuesday. Slide Insurance has a twelve month low of $12.53 and a twelve month high of $25.90. The stock’s fifty day simple moving average is $17.58 and its 200 day simple moving average is $16.21. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.07 billion and a P/E ratio of 12.35.

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its holdings in Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares during the last quarter. CWM LLC bought a new stake in shares of Slide Insurance in the 4th quarter valued at $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance in the 3rd quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Slide Insurance during the fourth quarter worth $47,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Slide Insurance by 5,637.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,926 shares of the company’s stock worth $57,000 after buying an additional 2,875 shares during 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”). 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.