Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives Average Rating of “Buy” from Analysts

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has received an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $24.40.

A number of research firms have weighed in on SLDE. Keefe, Bruyette & Woods upped their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Piper Sandler boosted their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Barclays increased their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th.

Slide Insurance Stock Down 5.4%

Shares of SLDE stock opened at $16.37 on Friday. Slide Insurance has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $17.32 and a 200-day moving average of $16.66. The company has a market capitalization of $2.04 billion and a price-to-earnings ratio of 6.34.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

Insider Buying and Selling

In related news, Director Beth Witte Bruce sold 25,000 shares of Slide Insurance stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $18.94, for a total value of $473,500.00. Following the sale, the director owned 226,645 shares of the company’s stock, valued at approximately $4,292,656.30. The trade was a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Gries, Jr. sold 28,212 shares of Slide Insurance stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $18.35, for a total value of $517,690.20. Following the completion of the sale, the director directly owned 2,003,053 shares in the company, valued at approximately $36,756,022.55. This represents a 1.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,025,372 shares of company stock worth $19,041,559 over the last 90 days.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in SLDE. Comerica Bank raised its stake in shares of Slide Insurance by 3,462.2% during the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 1,281 shares in the last quarter. CWM LLC bought a new position in shares of Slide Insurance in the fourth quarter valued at $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance during the third quarter worth $35,000. Aster Capital Management DIFC Ltd acquired a new position in Slide Insurance during the fourth quarter worth $47,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after acquiring an additional 2,468 shares in the last quarter.

About Slide Insurance

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.