Slide Insurance (NASDAQ:SLDE) Cut to Hold at Zacks Research

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

Several other equities research analysts have also recently issued reports on SLDE. Piper Sandler lifted their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note 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 research note on Monday, November 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.80.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $16.90 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s 50 day simple moving average is $17.65 and its 200-day simple moving average is $16.25. The company has a market cap of $2.10 billion and a PE ratio of 12.52. Slide Insurance has a 1-year low of $12.53 and a 1-year high of $25.90.

Institutional Trading of Slide Insurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in shares of Slide Insurance in the 2nd quarter valued at approximately $26,000. Comerica Bank increased its holdings in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the last quarter. CWM LLC purchased a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance during the third quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Slide Insurance during the fourth quarter worth $47,000.

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.