Slide Insurance (NASDAQ:SLDE) Raised to Buy at Wall Street Zen

Slide Insurance (NASDAQ:SLDE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

SLDE has been the topic of several other reports. Piper Sandler assumed coverage on shares of Slide Insurance in a research note on Sunday, July 13th. They issued an “overweight” rating and a $25.00 price target on the stock. Citizens Jmp assumed 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. Citigroup assumed coverage on shares of Slide Insurance in a research note on Monday, July 14th. They issued an “outperform” rating on the stock. Barclays assumed coverage on shares of Slide Insurance in a research note on Monday, July 14th. They issued an “overweight” rating and a $25.00 price target on the stock. Finally, JMP Securities set a $25.00 price target on shares of Slide Insurance and gave the company a “market outperform” rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Slide Insurance has a consensus rating of “Buy” and an average target price of $23.17.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $14.55 on Friday. Slide Insurance has a one year low of $14.45 and a one year high of $25.90. The company has a fifty day moving average of $19.14.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, August 12th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.40 by $0.16. The business had revenue of $261.61 million during the quarter, compared to analyst estimates of $271.18 million.

Insiders Place Their Bets

In other Slide Insurance news, Director Beth Witte Bruce sold 31,029 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $15.81, for a total transaction of $490,568.49. Following the completion of the transaction, the director owned 251,645 shares in the company, valued at approximately $3,978,507.45. This trade represents a 10.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Gries, Jr. sold 358,457 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.81, for a total transaction 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 427,482 shares of company stock worth $6,758,490.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Slide Insurance in the 2nd quarter valued at $53,000. Instrumental Wealth LLC acquired a new stake in Slide Insurance in the 2nd quarter valued at $319,000. Stratos Wealth Partners LTD. acquired a new stake in Slide Insurance in the 2nd quarter valued at $238,000. FNY Investment Advisers LLC acquired a new stake in Slide Insurance in the 2nd quarter valued at $26,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Slide Insurance in the 2nd quarter valued at $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”).