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

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has earned a consensus rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.1667.

A number of equities research analysts have recently weighed in on SLDE shares. Piper Sandler lifted their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Morgan Stanley increased 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. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently made changes to their positions in SLDE. Comerica Bank raised its position in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after acquiring an additional 1,281 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Slide Insurance by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after purchasing an additional 354,321 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Slide Insurance in the 4th quarter valued at $789,000. ProVise Management Group LLC acquired a new stake in shares of Slide Insurance during the fourth quarter worth $357,000. Finally, HB Wealth Management LLC increased its position in shares of Slide Insurance by 1,375.7% during the fourth quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock worth $17,388,000 after buying an additional 832,102 shares during the period.

Slide Insurance Trading Up 4.9%

Shares of Slide Insurance stock opened at $16.76 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a 50-day moving average of $17.57 and a 200-day moving average of $16.45. Slide Insurance has a 52-week low of $12.53 and a 52-week high of $25.90. The stock has a market cap of $2.08 billion and a PE ratio of 12.41.

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

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.