Slide Insurance (NASDAQ:SLDE) Upgraded at Zacks Research

Zacks Research upgraded shares of Slide Insurance (NASDAQ:SLDE) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports.

A number of other research analysts also recently issued reports on SLDE. Piper Sandler lifted their price target on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Morgan Stanley boosted 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.17.

Slide Insurance Trading Down 2.9%

NASDAQ SLDE opened at $18.10 on Thursday. The company’s 50-day simple moving average is $17.58 and its two-hundred day simple moving average is $16.80. Slide Insurance has a one year low of $12.53 and a one year high of $25.90. The company has a market capitalization of $2.25 billion and a price-to-earnings ratio of 13.41. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.30 and a current ratio of 1.30.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SLDE. American Century Companies Inc. purchased a new stake in shares of Slide Insurance in the 2nd quarter valued at $56,229,000. Emerald Mutual Fund Advisers Trust acquired a new position in Slide Insurance during the second quarter valued at $4,387,000. Soros Fund Management LLC purchased a new stake in Slide Insurance in the second quarter valued at $5,415,000. Russell Investments Group Ltd. acquired a new stake in Slide Insurance during the 2nd quarter worth about $4,245,000. Finally, Hood River Capital Management LLC purchased a new position in shares of Slide Insurance during the 2nd quarter valued at about $31,542,000.

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”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.