Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives $21.67 Average PT from Brokerages

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $21.6667.

SLDE has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised shares of Slide Insurance from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $20.00 to $19.00 in a research report on Thursday, September 18th. JMP Securities set a $25.00 price objective on Slide Insurance and gave the stock a “market outperform” rating in a report on Monday, July 14th. Citigroup started coverage on Slide Insurance in a research report on Monday, July 14th. They set an “outperform” rating on the stock. Piper Sandler dropped their price target on Slide Insurance from $25.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 2nd. Finally, Barclays started coverage on Slide Insurance in a research report on Monday, July 14th. They set an “overweight” rating and a $25.00 price target on the stock.

Slide Insurance Stock Performance

Slide Insurance stock opened at $14.83 on Friday. Slide Insurance has a twelve month low of $12.53 and a twelve month high of $25.90. The stock’s fifty day moving average is $15.54.

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

Slide Insurance announced that its board has approved a stock buyback plan on Wednesday, August 27th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors have recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at approximately $53,000. Instrumental Wealth LLC acquired a new stake in Slide Insurance in the second quarter valued at $319,000. HBK Investments L P purchased a new stake in shares of Slide Insurance during the 2nd quarter worth $217,000. Boston Partners acquired a new position in shares of Slide Insurance during the 2nd quarter worth $10,701,000. Finally, American Century Companies Inc. acquired a new position in shares of Slide Insurance during the 2nd quarter worth $56,229,000.

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”).