Slide Insurance (NASDAQ:SLDE) Price Target Raised to $21.00

Slide Insurance (NASDAQ:SLDE) had its price objective boosted by Piper Sandler from $18.00 to $21.00 in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Barclays initiated coverage on shares of Slide Insurance in a research report on Monday, July 14th. They issued an “overweight” rating and a $25.00 price target for the company. Morgan Stanley raised Slide Insurance from an “equal weight” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research report on Thursday, September 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Slide Insurance in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $22.67.

Slide Insurance Trading Down 0.1%

SLDE stock opened at $16.60 on Thursday. The company has a fifty day moving average price of $14.99. Slide Insurance has a 12-month low of $12.53 and a 12-month high of $25.90.

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

Slide Insurance announced that its board has initiated a stock buyback program on Wednesday, August 27th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Slide Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of SLDE. FNY Investment Advisers LLC purchased a new position in shares of Slide Insurance in the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in Slide Insurance in the second quarter valued at approximately $53,000. Strs Ohio purchased a new position in Slide Insurance in the third quarter valued at approximately $77,000. New York State Common Retirement Fund acquired a new stake in Slide Insurance during the third quarter worth approximately $134,000. Finally, Man Group plc purchased a new stake in shares of Slide Insurance during the 2nd quarter worth approximately $210,000.

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”).