Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have received an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.80.

Several research firms have recently issued reports on SLDE. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Keefe, Bruyette & Woods raised their target price 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. 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 report on Monday, November 17th. Finally, Piper Sandler lifted their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th.

Slide Insurance Trading Down 1.2%

Shares of NASDAQ:SLDE opened at $16.67 on Tuesday. The business’s 50 day simple moving average is $17.58 and its 200 day simple moving average is $16.21. Slide Insurance has a 1 year low of $12.53 and a 1 year high of $25.90. 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 company has a market capitalization of $2.07 billion and a P/E ratio of 12.35.

Institutional Trading of Slide Insurance

Several institutional investors and hedge funds have recently modified their holdings of SLDE. American Century Companies Inc. bought a new position in Slide Insurance in the second quarter valued at about $56,229,000. Raymond James Financial Inc. bought a new stake in shares of Slide Insurance during the 2nd quarter valued at approximately $33,063,000. Capital World Investors increased its position in Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after purchasing an additional 1,483,180 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Slide Insurance during the 2nd quarter worth approximately $31,542,000. Finally, Balyasny Asset Management L.P. lifted its stake in Slide Insurance by 314.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock valued at $21,753,000 after purchasing an additional 1,045,826 shares during the last quarter.

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.