Citizens Jmp Begins Coverage on Slide Insurance (NASDAQ:SLDE)

Citizens Jmp began coverage on shares of Slide Insurance (NASDAQ:SLDE - Free Report) in a research report released on Monday morning, Marketbeat reports. The brokerage issued a strong-buy rating and a $25.00 target price on the stock.

Several other equities analysts have also commented on SLDE. Keefe, Bruyette & Woods raised shares of Slide Insurance to a "hold" rating and set a $20.00 price objective for the company in a research report on Monday. Citigroup began coverage on Slide Insurance in a research note on Monday. They issued an "outperform" rating for the company. Morgan Stanley initiated coverage on Slide Insurance in a report on Monday. They set an "equal weight" rating and a $19.00 target price for the company. Barclays assumed coverage on Slide Insurance in a research report on Monday. They issued an "overweight" rating and a $25.00 target price on the stock. Finally, Piper Sandler initiated coverage on shares of Slide Insurance in a research report on Sunday. They set an "overweight" rating and a $25.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.17.

Slide Insurance Trading Down 1.3%

Slide Insurance stock traded down $0.25 during midday trading on Monday, reaching $18.65. The company's stock had a trading volume of 222,795 shares, compared to its average volume of 1,151,176. Slide Insurance has a 52-week low of $17.30 and a 52-week high of $25.90.

Insider Activity

In related news, Director Robert Gries, Jr. sold 358,457 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.81, for a total transaction of $5,667,205.17. Following the completion of the transaction, the director owned 2,031,265 shares in the company, valued at $32,114,299.65. This represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen L. Rohde sold 11,082 shares of Slide Insurance stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $15.81, for a total value of $175,206.42. Following the completion of the sale, the director owned 9,335 shares in the company, valued at approximately $147,586.35. The trade was a 54.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,482 shares of company stock worth $6,758,490 over the last three months.

Institutional Trading of Slide Insurance

An institutional investor recently bought a new position in Slide Insurance stock. Opal Wealth Advisors LLC bought a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,469 shares of the company's stock, valued at approximately $53,000.

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”).