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

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have been given a consensus recommendation of “Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $24.40.

SLDE has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Barclays raised their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Piper Sandler increased their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Keefe, Bruyette & Woods raised their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th.

Slide Insurance Price Performance

Slide Insurance stock opened at $16.37 on Friday. The business’s 50-day simple moving average is $17.32 and its 200 day simple moving average is $16.66. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.04 billion and a price-to-earnings ratio of 6.34. Slide Insurance has a 12-month low of $12.53 and a 12-month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The business had revenue of $347.01 million for the quarter.

Insider Buying and Selling

In other Slide Insurance news, CEO Bruce Lucas sold 241,493 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $18.59, for a total transaction of $4,489,354.87. Following the transaction, the chief executive officer owned 39,460,863 shares in the company, valued at approximately $733,577,443.17. This trade represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Shannon Lucas sold 23,884 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $18.59, for a total value of $444,003.56. Following the transaction, the chief operating officer owned 1,609,041 shares of the company’s stock, valued at $29,912,072.19. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,025,372 shares of company stock worth $19,041,559.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Great Lakes Advisors LLC bought a new stake in shares of Slide Insurance in the third quarter worth about $3,113,000. American Century Companies Inc. bought a new position in shares of Slide Insurance during the 2nd quarter valued at about $56,229,000. HB Wealth Management LLC acquired a new position in shares of Slide Insurance in the 3rd quarter valued at approximately $955,000. Federated Hermes Inc. acquired a new position in shares of Slide Insurance in the 3rd quarter valued at approximately $9,471,000. Finally, Russell Investments Group Ltd. bought a new stake in Slide Insurance during the 2nd quarter worth approximately $4,245,000.

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.