Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Given Average Recommendation of “Buy” by Analysts

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has been given a consensus rating of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.40.

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Piper Sandler upped their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Barclays increased their price target on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Finally, Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th.

Slide Insurance Trading Up 0.1%

SLDE stock opened at $17.77 on Friday. Slide Insurance has a 12 month low of $12.53 and a 12 month high of $25.90. The firm’s 50-day moving average is $17.34 and its 200 day moving average is $16.76. The company has a market capitalization of $2.21 billion and a PE ratio of 6.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34.

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

Insider Buying and Selling at Slide Insurance

In other news, Director Robert Gries, Jr. sold 28,212 shares of the business’s 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 owned 2,003,053 shares in the company, valued at approximately $36,756,022.55. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Shannon Lucas sold 23,884 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $18.59, for a total transaction of $444,003.56. Following the completion of the sale, the chief operating officer owned 1,609,041 shares of the company’s stock, valued at approximately $29,912,072.19. This represents a 1.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,036,622 shares of company stock worth $19,244,059.

Institutional Trading of Slide Insurance

Hedge funds have recently bought and sold shares of the stock. Capital World Investors increased its holdings in shares of Slide Insurance by 49.4% in the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after acquiring an additional 1,483,180 shares during the period. Vanguard Group Inc. lifted its stake in shares of Slide Insurance by 14.7% during 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 last quarter. American Century Companies Inc. purchased a new stake in shares of Slide Insurance during the 2nd quarter worth $56,229,000. Balyasny Asset Management L.P. boosted its position in Slide Insurance by 27.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after purchasing an additional 380,161 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Slide Insurance during the second quarter valued at about $33,063,000.

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.