Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives $24.40 Average PT from Analysts

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have been given a consensus rating of “Buy” by the nine analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $24.40.

A number of research firms recently weighed in on SLDE. Keefe, Bruyette & Woods upped their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Barclays upped their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Piper Sandler boosted their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th.

Insider Activity at Slide Insurance

In related news, CEO Bruce Lucas sold 190,836 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $18.04, for a total value of $3,442,681.44. Following the sale, the chief executive officer owned 37,171,042 shares of the company’s stock, valued at $670,565,597.68. The trade was a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Paul Larson sold 10,000 shares of the business’s stock in a transaction on Monday, April 13th. The shares were sold at an average price of $18.00, for a total value of $180,000.00. Following the completion of the sale, the insider directly owned 10,000 shares in the company, valued at approximately $180,000. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,909,847 shares of company stock valued at $53,082,121 in the last 90 days.

Institutional Trading of Slide Insurance

Institutional investors have recently bought and sold shares of the stock. Comerica Bank raised its position in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the last quarter. CWM LLC bought a new position in Slide Insurance in the 4th quarter valued at $35,000. Ameritas Investment Partners Inc. bought a new position in Slide Insurance in the 3rd quarter valued at $35,000. Aster Capital Management DIFC Ltd bought a new position in Slide Insurance in the 4th quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Slide Insurance by 4,839.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after purchasing an additional 2,468 shares during the last quarter.

Slide Insurance Stock Performance

SLDE opened at $19.63 on Wednesday. The stock has a market cap of $2.44 billion and a PE ratio of 7.61. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance has a 1 year low of $12.53 and a 1 year high of $25.90. The stock’s 50 day simple moving average is $17.88 and its 200-day simple moving average is $17.22.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

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.