Slide Insurance Holdings, Inc.’s (NASDAQ:SLDE) Quiet Period To End on July 28th

Slide Insurance’s (NASDAQ:SLDE) quiet period will end on Monday, July 28th. Slide Insurance had issued 24,000,000 shares in its IPO on June 18th. The total size of the offering was $408,000,000 based on an initial share price of $17.00. During Slide Insurance’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JMP Securities set a $25.00 price objective on Slide Insurance and gave the company a “market outperform” rating in a report on Monday, July 14th. Piper Sandler assumed coverage on Slide Insurance in a report on Sunday, July 13th. They issued an “overweight” rating and a $25.00 price objective for the company. Citizens Jmp assumed coverage on Slide Insurance in a report on Monday, July 14th. They issued a “strong-buy” rating and a $25.00 price objective for the company. Citigroup started coverage on Slide Insurance in a report on Monday, July 14th. They issued an “outperform” rating for the company. Finally, Keefe, Bruyette & Woods upgraded Slide Insurance to a “hold” rating and set a $20.00 price target for the company in a report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.17.

Slide Insurance Stock Performance

Shares of Slide Insurance stock opened at $18.40 on Monday. Slide Insurance has a 1 year low of $17.30 and a 1 year high of $25.90.

Insiders Place Their Bets

In related news, Director Stephen L. Rohde sold 11,082 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $15.81, for a total transaction of $175,206.42. Following the completion of the transaction, the director directly owned 9,335 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Gries, Jr. sold 358,457 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.81, for a total value of $5,667,205.17. Following the transaction, the director owned 2,031,265 shares of the company’s stock, valued at approximately $32,114,299.65. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,482 shares of company stock worth $6,758,490 over the last ninety days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Slide Insurance stock. Opal Wealth Advisors LLC purchased a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,469 shares of the company’s stock, valued at approximately $53,000.

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”).