Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has received a consensus rating of "Moderate Buy" from eight brokerages, with one analyst issuing a sell recommendation and seven recommending buy or strong buy.
• The company's stock price objective averages around $21.67, with recent adjustments citing price targets ranging from $18.00 to $25.00 by various firms.
• In its latest quarterly report, Slide Insurance beat earnings estimates with $0.56 EPS, but revenue came in lower than expected at $261.61 million compared to the predicted $271.18 million.

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) have been given an average rating of "Moderate Buy" by the eight brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $21.6667.

Several analysts have issued reports on the stock. Morgan Stanley raised shares of Slide Insurance from an "equal weight" rating to an "overweight" rating and set a $18.00 price objective for the company in a research report on Thursday, September 25th. Keefe, Bruyette & Woods raised shares of Slide Insurance from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from $20.00 to $19.00 in a research report on Thursday, September 18th. Piper Sandler decreased their price target on shares of Slide Insurance from $25.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, September 2nd. Wall Street Zen raised shares of Slide Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Slide Insurance in a research report on Wednesday, October 8th.

Institutional Trading of Slide Insurance

A number of hedge funds have recently made changes to their positions in SLDE. Opal Wealth Advisors LLC bought a new position in Slide Insurance during the second quarter worth $53,000. Instrumental Wealth LLC bought a new position in Slide Insurance during the second quarter worth $319,000. Stratos Wealth Partners LTD. bought a new position in Slide Insurance during the second quarter worth $238,000. FNY Investment Advisers LLC bought a new position in Slide Insurance during the second quarter worth $26,000. Finally, Envestnet Asset Management Inc. bought a new position in Slide Insurance during the second quarter worth $1,333,000.

Slide Insurance Price Performance

Shares of NASDAQ:SLDE opened at $14.93 on Wednesday. Slide Insurance has a 52-week low of $12.53 and a 52-week high of $25.90. The firm has a 50 day moving average price of $14.55.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.16. The firm had revenue of $261.61 million during the quarter, compared to analyst estimates of $271.18 million.

Slide Insurance announced that its board has authorized a share repurchase program on Wednesday, August 27th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

About Slide Insurance

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”).

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