Slide Insurance Holdings, Inc.'s Quiet Period To End on July 28th (NASDAQ:SLDE)

Slide Insurance's (NASDAQ:SLDE - Get Free Report) quiet period will end on Monday, July 28th. Slide Insurance had issued 24,000,000 shares in its public offering on June 18th. The total size of the offering was $408,000,000 based on an initial share price of $17.00. During the company's quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

SLDE has been the subject of a number of research reports. Citizens Jmp started coverage on Slide Insurance in a report on Monday, July 14th. They issued a "strong-buy" rating and a $25.00 price objective for the company. Citigroup began coverage on shares of Slide Insurance in a research note on Monday, July 14th. They issued an "outperform" rating for the company. Keefe, Bruyette & Woods raised shares of Slide Insurance to a "hold" rating and set a $20.00 price objective on the stock in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Slide Insurance to a "hold" rating in a report on Saturday, July 5th. Finally, Piper Sandler initiated coverage on Slide Insurance in a research note on Sunday, July 13th. They issued an "overweight" rating and a $25.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $23.17.

Slide Insurance Trading Up 4.2%

Shares of NASDAQ SLDE traded up $0.78 during midday trading on Thursday, hitting $19.36. The stock had a trading volume of 261,352 shares, compared to its average volume of 575,722. Slide Insurance has a 52 week low of $17.30 and a 52 week high of $25.90.

Insider Activity at Slide Insurance

In other Slide Insurance news, Director Beth Witte Bruce sold 31,029 shares of the company's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $15.81, for a total transaction of $490,568.49. Following the transaction, the director owned 251,645 shares in the company, valued at approximately $3,978,507.45. This represents a 10.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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 owned 2,031,265 shares of the company's stock, valued at $32,114,299.65. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,482 shares of company stock valued at $6,758,490.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Slide Insurance stock. Instrumental Wealth LLC bought a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,705 shares of the company's stock, 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”).