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

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have received a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $24.40.

A number of equities analysts have issued reports on SLDE shares. Piper Sandler increased their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Wall Street Zen cut Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, Keefe, Bruyette & Woods increased their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th.

Slide Insurance Stock Performance

Shares of SLDE opened at $18.98 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.36 billion and a P/E ratio of 7.36. The firm’s fifty day simple moving average is $17.95 and its two-hundred day simple moving average is $17.28. Slide Insurance has a 12 month low of $12.53 and a 12 month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter. As a group, analysts predict that Slide Insurance will post 3.26 EPS for the current year.

Insider Activity

In other news, CEO Bruce Lucas sold 273,702 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $18.11, for a total transaction of $4,956,743.22. Following the transaction, the chief executive officer owned 37,620,933 shares of the company’s stock, valued at $681,315,096.63. This represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 2,929,847 shares of company stock worth $53,466,509.

Hedge Funds Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Comerica Bank boosted its position 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. Price T Rowe Associates Inc. MD boosted its position in shares of Slide Insurance by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after purchasing an additional 1,704 shares in the last quarter. CWM LLC bought a new position in shares of Slide Insurance during the 4th quarter worth about $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance during the 3rd quarter worth about $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Slide Insurance during the 4th quarter worth about $47,000.

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.