Boston Partners Takes Position in Slide Insurance Holdings, Inc. $SLDE

Boston Partners purchased a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 494,191 shares of the company’s stock, valued at approximately $10,701,000. Boston Partners owned about 0.40% of Slide Insurance as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLDE. American Century Companies Inc. acquired a new position in shares of Slide Insurance during the 2nd quarter worth about $56,229,000. Emerald Mutual Fund Advisers Trust acquired a new position in Slide Insurance during the second quarter valued at approximately $4,387,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Slide Insurance in the second quarter valued at approximately $2,667,000. Geode Capital Management LLC acquired a new stake in Slide Insurance in the second quarter worth $2,245,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Slide Insurance during the second quarter worth $1,333,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SLDE shares. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Piper Sandler boosted their price objective on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Morgan Stanley raised their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Keefe, Bruyette & Woods lifted their price target on shares of Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $23.17.

Slide Insurance Stock Performance

SLDE stock opened at $16.89 on Friday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The stock’s fifty day moving average price is $15.80.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.30. The company had revenue of $265.69 million for the quarter, compared to the consensus estimate of $279.36 million.

Slide Insurance announced that its board has authorized a stock buyback program on Wednesday, August 27th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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”).