Slide Insurance (NASDAQ:SLDE) Stock Rating Lowered by Zacks Research

Slide Insurance (NASDAQ:SLDE) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

SLDE has been the subject of a number of other research reports. Piper Sandler increased their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report 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 report on Monday, November 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Finally, Keefe, Bruyette & Woods raised their price target 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. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Slide Insurance has a consensus rating of “Moderate Buy” and an average target price of $22.80.

Slide Insurance Stock Up 1.8%

NASDAQ:SLDE opened at $17.18 on Monday. The firm has a market capitalization of $2.14 billion and a PE ratio of 12.73. The stock has a 50 day moving average of $17.68 and a 200-day moving average of $16.25. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.04. Slide Insurance has a 52 week low of $12.53 and a 52 week high of $25.90.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SLDE. FNY Investment Advisers LLC acquired a new position in Slide Insurance in the second quarter valued at about $26,000. Comerica Bank grew its holdings in Slide Insurance by 3,462.2% during the fourth 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 period. CWM LLC bought a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance during the third quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Slide Insurance in the fourth quarter valued at $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.