Emerald Advisers LLC Invests $708,000 in Slide Insurance Holdings, Inc. $SLDE

Emerald Advisers LLC purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 32,686 shares of the company’s stock, valued at approximately $708,000.

A number of other hedge funds also recently modified their holdings of SLDE. FNY Investment Advisers LLC bought a new position in shares of Slide Insurance during the second quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in Slide Insurance in the second quarter valued at approximately $53,000. Stratos Wealth Partners LTD. bought a new position in Slide Insurance in the second quarter valued at approximately $238,000. Instrumental Wealth LLC bought a new position in Slide Insurance in the second quarter valued at approximately $319,000. Finally, Envestnet Asset Management Inc. bought a new position in Slide Insurance in the second quarter valued at approximately $1,333,000.

Wall Street Analyst Weigh In

SLDE has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Slide Insurance in a research report on Wednesday, October 8th. Citizens Jmp initiated coverage on Slide Insurance in a research report on Monday, July 14th. They issued a “strong-buy” rating and a $25.00 price objective for the company. Keefe, Bruyette & Woods raised Slide Insurance from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $20.00 to $19.00 in a research report on Thursday, September 18th. Barclays began coverage on Slide Insurance in a report on Monday, July 14th. They set an “overweight” rating and a $25.00 price target for the company. Finally, JMP Securities set a $25.00 price objective on Slide Insurance and gave the company a “market outperform” rating in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Slide Insurance Stock Performance

Shares of SLDE stock opened at $15.54 on Thursday. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The stock’s fifty day moving average price is $14.63.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.16. The firm had revenue of $261.61 million for the quarter, compared to the consensus estimate of $271.18 million.

Slide Insurance announced that its board has approved a share repurchase plan on Wednesday, August 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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”).