Cyndeo Wealth Partners LLC Acquires Shares of 114,716 Slide Insurance Holdings, Inc. $SLDE

Cyndeo Wealth Partners LLC acquired a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 114,716 shares of the company’s stock, valued at approximately $2,235,000. Cyndeo Wealth Partners LLC owned 0.09% of Slide Insurance at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. acquired a new position in Slide Insurance in the 2nd quarter valued at about $56,229,000. Raymond James Financial Inc. acquired a new stake in Slide Insurance during the second quarter worth approximately $33,063,000. Capital World Investors boosted its holdings in shares of Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after acquiring an additional 1,483,180 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Slide Insurance during the second quarter worth approximately $31,542,000. Finally, Balyasny Asset Management L.P. grew its position in shares of Slide Insurance by 314.8% in the third 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Texas Capital raised Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Piper Sandler upped their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Finally, Barclays upped their price target 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. Two equities research 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 company’s stock. According to data from MarketBeat, Slide Insurance currently has an average rating of “Buy” and an average target price of $24.40.

Insider Activity

In related news, CEO Bruce Lucas sold 241,493 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $18.59, for a total transaction of $4,489,354.87. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Gries, Jr. sold 28,212 shares of Slide Insurance stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $18.35, for a total transaction of $517,690.20. Following the completion of the transaction, the director directly owned 2,003,053 shares in the company, valued at $36,756,022.55. This trade represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,025,372 shares of company stock valued at $19,041,559 in the last 90 days.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $16.37 on Monday. The company has a market cap of $2.04 billion and a price-to-earnings ratio of 6.34. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a fifty day moving average price of $17.32 and a 200-day moving average price of $16.70.

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

Slide Insurance 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.