Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives $23.17 Average PT from Analysts

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $23.1667.

SLDE has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Piper Sandler boosted 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 Thursday, November 6th. Keefe, Bruyette & Woods increased their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 10th.

Slide Insurance Price Performance

NASDAQ SLDE opened at $18.10 on Monday. The company has a market cap of $2.25 billion and a PE ratio of 13.41. The firm’s 50 day moving average price is $17.58 and its 200-day moving average price is $16.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.30 and a current ratio of 1.30. Slide Insurance has a 52-week low of $12.53 and a 52-week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Wednesday, November 5th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.30. The company had revenue of $265.69 million for the quarter, compared to analysts’ expectations of $279.36 million.

Institutional Investors Weigh In On Slide Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDE. FNY Investment Advisers LLC purchased a new stake in shares of Slide Insurance during the second quarter worth about $26,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance in the 3rd quarter worth approximately $35,000. Opal Wealth Advisors LLC purchased a new stake in Slide Insurance during the 2nd quarter worth approximately $53,000. Strs Ohio acquired a new position in Slide Insurance during the 3rd quarter valued at approximately $77,000. Finally, SG Americas Securities LLC raised its holdings in shares of Slide Insurance by 30.1% in the fourth quarter. SG Americas Securities LLC now owns 24,103 shares of the company’s stock worth $470,000 after buying an additional 5,576 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.