Slide Insurance (NASDAQ:SLDE) Price Target Raised to $29.00

Slide Insurance (NASDAQ:SLDE) had its price target raised by Barclays from $25.00 to $29.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Piper Sandler upped their price target on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Keefe, Bruyette & Woods upped their target price on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Finally, Morgan Stanley raised their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.20.

Slide Insurance Price Performance

Shares of NASDAQ SLDE opened at $19.00 on Wednesday. The firm has a 50-day simple moving average of $17.62 and a 200-day simple moving average of $16.27. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.36 billion and a price-to-earnings ratio of 14.07. Slide Insurance has a 52 week low of $12.53 and a 52 week high of $25.90.

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

Institutional Trading of Slide Insurance

Several institutional investors and hedge funds have recently bought and sold shares of SLDE. Capital World Investors lifted its position in Slide Insurance by 49.4% in the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after buying an additional 1,483,180 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Slide Insurance by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after acquiring an additional 354,321 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Slide Insurance during the 2nd quarter worth approximately $56,229,000. Balyasny Asset Management L.P. increased its holdings in Slide Insurance by 27.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after purchasing an additional 380,161 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Slide Insurance in the second quarter valued at approximately $33,063,000.

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.