Slide Insurance (NASDAQ:SLDE) Stock Rating Upgraded by Zacks Research

Slide Insurance (NASDAQ:SLDE) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

SLDE has been the topic of a number of other research reports. Keefe, Bruyette & Woods lifted their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Piper Sandler increased their target price on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley boosted their price target on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $23.17.

Slide Insurance Stock Down 2.9%

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

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

Hedge Funds Weigh In On Slide Insurance

Several institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in shares of Slide Insurance during the 2nd quarter worth approximately $26,000. Ameritas Investment Partners Inc. purchased a new stake in Slide Insurance during the third quarter valued at $35,000. Opal Wealth Advisors LLC bought a new position in Slide Insurance during the second quarter valued at $53,000. Strs Ohio purchased a new position in shares of Slide Insurance in the 3rd quarter worth $77,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Slide Insurance in the 3rd quarter worth $111,000.

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.