Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives Consensus Recommendation of “Buy” from Analysts

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $23.1667.

Several analysts have issued reports on SLDE shares. Morgan Stanley upped their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Piper Sandler upped their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Keefe, Bruyette & Woods lifted their price target on Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Finally, Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th.

Slide Insurance Stock Performance

SLDE opened at $16.76 on Friday. The business’s 50-day simple moving average is $17.57 and its 200 day simple moving average is $16.45. Slide Insurance has a 52-week low of $12.53 and a 52-week high of $25.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $2.08 billion and a PE ratio of 12.41.

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

Hedge Funds Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently modified their holdings of SLDE. Stratos Wealth Partners LTD. acquired a new stake in shares of Slide Insurance during the 2nd quarter worth about $238,000. FNY Investment Advisers LLC bought a new position in Slide Insurance in the 2nd quarter valued at about $26,000. Envestnet Asset Management Inc. acquired a new stake in Slide Insurance during the second quarter worth approximately $1,333,000. Emerald Advisers LLC bought a new stake in shares of Slide Insurance during the second quarter worth approximately $708,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Slide Insurance during the second quarter worth approximately $4,387,000.

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”). 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.