Slide Insurance (NASDAQ:SLDE) Now Covered by Morgan Stanley

Morgan Stanley initiated coverage on shares of Slide Insurance (NASDAQ:SLDE) in a research note released on Monday, MarketBeat.com reports. The firm issued an equal weight rating and a $19.00 price target on the stock.

Several other brokerages have also issued reports on SLDE. Piper Sandler began coverage on shares of Slide Insurance in a research report on Sunday. They issued an “overweight” rating and a $25.00 target price on the stock. Citigroup began coverage on shares of Slide Insurance in a research report on Monday. They issued an “outperform” rating on the stock. Finally, Wall Street Zen upgraded shares of Slide Insurance to a “hold” rating in a research report on Saturday, July 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.17.

Slide Insurance Trading Up 1.3%

SLDE stock opened at $19.44 on Monday. Slide Insurance has a one year low of $17.77 and a one year high of $25.90.

Insider Transactions at Slide Insurance

In other news, Director Stephen L. Rohde sold 11,082 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $15.81, for a total value of $175,206.42. Following the transaction, the director directly owned 9,335 shares of the company’s stock, valued at approximately $147,586.35. This trade represents a 54.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Beth Witte Bruce sold 31,029 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $15.81, for a total transaction of $490,568.49. Following the completion of the transaction, the director directly owned 251,645 shares in the company, valued at approximately $3,978,507.45. This represents a 10.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,482 shares of company stock valued at $6,758,490.

Hedge Funds Weigh In On Slide Insurance

A hedge fund recently bought a new stake in Slide Insurance stock. Opal Wealth Advisors LLC bought a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,469 shares of the company’s stock, valued at approximately $53,000.

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”).