Morgan Stanley Cuts Slide Insurance (NASDAQ:SLDE) Price Target to $18.00

Slide Insurance (NASDAQ:SLDE) had its price target lowered by Morgan Stanley from $19.00 to $18.00 in a research report report published on Monday, Marketbeat reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Slide Insurance to a “hold” rating and set a $20.00 target price on the stock in a report on Monday, July 14th. JMP Securities set a $25.00 price target on shares of Slide Insurance and gave the company a “market outperform” rating in a report on Monday, July 14th. Citigroup started coverage on shares of Slide Insurance in a report on Monday, July 14th. They set an “outperform” rating for the company. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Citizens Jmp started coverage on shares of Slide Insurance in a research note on Monday, July 14th. They issued a “strong-buy” rating and a $25.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Slide Insurance Stock Performance

Shares of NASDAQ:SLDE opened at $14.51 on Monday. Slide Insurance has a 1-year low of $14.10 and a 1-year high of $25.90. The business’s fifty day simple moving average is $18.83.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results 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 business had revenue of $261.61 million for the quarter, compared to analyst estimates of $271.18 million.

Insider Activity

In other news, Director Beth Witte Bruce sold 31,029 shares of the firm’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $15.81, for a total transaction of $490,568.49. Following the transaction, the director directly owned 251,645 shares of the company’s stock, valued at approximately $3,978,507.45. This trade represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Gries, Jr. sold 358,457 shares of the firm’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.81, for a total value of $5,667,205.17. Following the transaction, the director directly owned 2,031,265 shares in the company, valued at $32,114,299.65. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 427,482 shares of company stock valued at $6,758,490.

Institutional Trading of Slide Insurance

Several institutional investors have recently modified their holdings of SLDE. FNY Investment Advisers LLC acquired a new stake in shares of Slide Insurance in the second quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Slide Insurance in the second quarter valued at $53,000. Man Group plc acquired a new stake in shares of Slide Insurance in the second quarter valued at $210,000. Legal & General Group Plc acquired a new stake in shares of Slide Insurance in the second quarter valued at $216,000. Finally, HBK Investments L P acquired a new stake in shares of Slide Insurance in the second quarter valued at $217,000.

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”).