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

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) has received a consensus recommendation of "Buy" from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.1667.

A number of brokerages have weighed in on SLDE. JMP Securities set a $25.00 price objective on Slide Insurance and gave the company a "market outperform" rating in a research note on Monday, July 14th. Keefe, Bruyette & Woods upgraded shares of Slide Insurance to a "hold" rating and set a $20.00 price target for the company in a research report on Monday, July 14th. Citizens Jmp initiated coverage on shares of Slide Insurance in a research note on Monday, July 14th. They set a "strong-buy" rating and a $25.00 price target for the company. Piper Sandler started coverage on shares of Slide Insurance in a research note on Sunday, July 13th. They issued an "overweight" rating and a $25.00 price objective on the stock. Finally, Citigroup began coverage on shares of Slide Insurance in a report on Monday, July 14th. They issued an "outperform" rating for the company.

Slide Insurance Trading Down 6.6%

Slide Insurance stock opened at $17.28 on Friday. Slide Insurance has a fifty-two week low of $16.81 and a fifty-two week high of $25.90.

Insider Transactions at Slide Insurance

In other news, Director Beth Witte Bruce sold 31,029 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $15.81, for a total transaction of $490,568.49. Following the completion of the transaction, the director directly owned 251,645 shares of the company's stock, valued at approximately $3,978,507.45. This represents a 10.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Gries, Jr. sold 358,457 shares of Slide Insurance stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.81, for a total value of $5,667,205.17. Following the completion of the sale, the director owned 2,031,265 shares in the company, valued at approximately $32,114,299.65. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,482 shares of company stock worth $6,758,490 over the last ninety days.

Institutional Investors Weigh In On Slide Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of Slide Insurance during the 2nd quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in Slide Insurance during the second quarter worth about $53,000. Levin Capital Strategies L.P. acquired a new position in Slide Insurance during the second quarter worth about $217,000. Stratos Wealth Partners LTD. purchased a new position in Slide Insurance in the second quarter valued at about $238,000. Finally, Instrumental Wealth LLC acquired a new stake in shares of Slide Insurance during the 2nd quarter valued at approximately $319,000.

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”).

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