Slide Insurance Holdings, Inc.’s Lock-Up Period Will End Tomorrow (NASDAQ:SLDE)

Slide Insurance’s (NASDAQ:SLDE) lock-up period is set to end on Monday, December 15th. Slide Insurance had issued 24,000,000 shares in its initial public offering on June 18th. The total size of the offering was $408,000,000 based on an initial share price of $17.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

SLDE has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Slide Insurance in a report on Wednesday, October 8th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Piper Sandler raised their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Morgan Stanley upped their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.17.

Slide Insurance Trading Down 2.0%

Shares of SLDE opened at $17.97 on Friday. The business’s 50-day moving average is $16.22. Slide Insurance has a twelve month low of $12.53 and a twelve month high of $25.90.

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

Slide Insurance declared that its board has authorized a share buyback program on Wednesday, August 27th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLDE. Opal Wealth Advisors LLC acquired a new stake in Slide Insurance during the 2nd quarter valued at approximately $53,000. Instrumental Wealth LLC bought a new stake in shares of Slide Insurance in the 2nd quarter worth about $319,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at about $238,000. FNY Investment Advisers LLC bought a new position in shares of Slide Insurance during the second quarter worth about $26,000. Finally, Envestnet Asset Management Inc. acquired a new position in Slide Insurance in the second quarter worth about $1,333,000.

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”).