Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.20.

Several brokerages recently issued reports on SLDE. Morgan Stanley boosted 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 Monday, November 17th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Piper Sandler raised their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their target price on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Barclays upped their price target on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Slide Insurance Stock Down 2.8%

Slide Insurance stock opened at $19.00 on Tuesday. Slide Insurance has a one year low of $12.53 and a one year high of $25.90. The stock has a fifty day moving average of $17.62 and a 200 day moving average of $16.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.30 and a current ratio of 1.30. The stock has a market cap of $2.36 billion and a PE ratio of 14.07.

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

Hedge Funds Weigh In On Slide Insurance

Hedge funds have recently modified their holdings of the company. Comerica Bank increased its stake in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 1,281 shares in the last quarter. CWM LLC purchased a new stake in Slide Insurance in the 4th quarter worth $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance during the third quarter valued at about $35,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Slide Insurance in the fourth quarter valued at about $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Slide Insurance by 5,637.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,926 shares of the company’s stock worth $57,000 after acquiring an additional 2,875 shares during the period.

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.