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

Key Points

• Slide Insurance Holdings, Inc. has received a consensus recommendation of "Buy" from analysts, with a target price averaging $23.17.
• Insiders have recently sold a significant amount of stock, with two directors selling shares at an average price of $15.81, totaling over $6.7 million in transactions.
• Institutional investors have increased their stake in Slide Insurance during the second quarter, with multiple firms acquiring new positions worth various amounts, including $319,000.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) has received a consensus recommendation of "Buy" from the seven ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $23.1667.

Several research firms have 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 report on Monday, July 14th. Morgan Stanley began coverage on shares of Slide Insurance in a report on Monday, July 14th. They set an "equal weight" rating and a $19.00 price objective for the company. Barclays began coverage on shares of Slide Insurance in a report on Monday, July 14th. They set an "overweight" rating and a $25.00 price objective for the company. Citigroup began coverage on shares of Slide Insurance in a report on Monday, July 14th. They set an "outperform" rating for the company. Finally, JMP Securities set a $25.00 price target on Slide Insurance and gave the stock a "market outperform" rating in a research report on Monday, July 14th.

Insider Buying and Selling

In related news, Director Beth Witte Bruce sold 31,029 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $15.81, for a total value of $490,568.49. Following the sale, the director directly owned 251,645 shares of the company's stock, valued at $3,978,507.45. This represents a 10.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Gries, Jr. sold 358,457 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.81, for a total transaction of $5,667,205.17. Following the completion of the sale, the director directly owned 2,031,265 shares in the company, valued at $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. Over the last quarter, insiders sold 427,482 shares of company stock worth $6,758,490.

Institutional Trading of Slide Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDE. Boston Partners purchased a new stake in Slide Insurance in the 2nd quarter worth about $7,024,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Slide Insurance in the 2nd quarter worth about $4,387,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Slide Insurance in the 2nd quarter worth about $2,667,000. Geode Capital Management LLC purchased a new stake in Slide Insurance in the 2nd quarter worth about $2,245,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Slide Insurance in the 2nd quarter worth about $1,333,000.

Slide Insurance Price Performance

Shares of SLDE traded up $0.19 during midday trading on Friday, hitting $17.32. 192,031 shares of the company traded hands, compared to its average volume of 765,508. Slide Insurance has a 52 week low of $16.81 and a 52 week high of $25.90.

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”).