Brokerages Set Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Price Target at $24.40

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $24.40.

SLDE has been the topic of several recent analyst reports. Barclays upped their price target on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Piper Sandler upped their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 17th.

Slide Insurance Price Performance

SLDE stock opened at $16.98 on Friday. The stock’s 50 day moving average is $17.31 and its two-hundred day moving average is $16.73. Slide Insurance has a 52-week low of $12.53 and a 52-week high of $25.90. The company has a market capitalization of $2.11 billion and a PE ratio of 6.58. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03.

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

Insider Transactions at Slide Insurance

In other news, COO Shannon Lucas sold 23,884 shares of Slide Insurance stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $18.59, for a total value of $444,003.56. Following the completion of the transaction, the chief operating officer owned 1,609,041 shares in the company, valued at approximately $29,912,072.19. This trade represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Beth Witte Bruce sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.94, for a total value of $473,500.00. Following the completion of the sale, the director owned 226,645 shares of the company’s stock, valued at $4,292,656.30. This trade represents a 9.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,025,372 shares of company stock worth $19,041,559 in the last quarter.

Institutional Trading of Slide Insurance

Several institutional investors have recently added to or reduced their stakes in the business. Great Lakes Advisors LLC bought a new stake in shares of Slide Insurance during the 3rd quarter valued at about $3,113,000. American Century Companies Inc. acquired a new stake in Slide Insurance during the second quarter worth about $56,229,000. HB Wealth Management LLC bought a new position in Slide Insurance in the third quarter worth about $955,000. Federated Hermes Inc. bought a new position in Slide Insurance in the third quarter worth about $9,471,000. Finally, Russell Investments Group Ltd. acquired a new position in Slide Insurance in the second quarter valued at approximately $4,245,000.

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.