Brokerages Set Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Target Price at $23.17

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.1667.

A number of research analysts have weighed in on the stock. 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 research note on Monday, November 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Piper Sandler increased their target price on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday.

Slide Insurance Stock Down 2.9%

Slide Insurance stock opened at $18.10 on Monday. The business has a 50 day simple moving average of $17.58 and a 200-day simple moving average of $16.77. Slide Insurance has a 12 month low of $12.53 and a 12 month high of $25.90. The stock has a market capitalization of $2.25 billion and a PE ratio of 13.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.30 and a quick ratio of 1.30.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Wednesday, November 5th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.30. The company had revenue of $265.69 million during the quarter, compared to analyst estimates of $279.36 million.

Hedge Funds Weigh In On Slide Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in shares of Slide Insurance in the 2nd quarter valued at $26,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance in the third quarter valued at $35,000. Opal Wealth Advisors LLC purchased a new position in shares of Slide Insurance during the second quarter worth about $53,000. Strs Ohio acquired a new stake in shares of Slide Insurance during the third quarter worth about $77,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Slide Insurance in the 3rd quarter valued at about $111,000.

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.