Slide Insurance (NASDAQ:SLDE) Coverage Initiated by Analysts at Barclays

Investment analysts at Barclays initiated coverage on shares of Slide Insurance (NASDAQ:SLDE - Get Free Report) in a report issued on Monday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $25.00 price target on the stock. Barclays's target price points to a potential upside of 34.05% from the stock's current price.

Other research analysts have also issued research reports about the company. Wall Street Zen upgraded Slide Insurance to a "hold" rating in a research report on Saturday, July 5th. Keefe, Bruyette & Woods upgraded Slide Insurance to a "hold" rating and set a $20.00 target price for the company in a research report on Monday. Morgan Stanley began coverage on shares of Slide Insurance in a research report on Monday. They set an "equal weight" rating and a $19.00 price objective for the company. Piper Sandler began coverage on Slide Insurance in a research report on Sunday. They issued an "overweight" rating and a $25.00 price target for the company. Finally, Citigroup began coverage on Slide Insurance in a research note on Monday. They set an "outperform" rating on the stock. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.17.

Slide Insurance Price Performance

Shares of SLDE stock traded down $0.25 during mid-day trading on Monday, hitting $18.65. The company 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 Transactions at Slide Insurance

In related news, Director Beth Witte Bruce sold 31,029 shares of the firm's 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 sale, the director directly owned 251,645 shares of the company's stock, valued at approximately $3,978,507.45. This trade represents a 10.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Gries, Jr. sold 358,457 shares of the company's 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 transaction, the director owned 2,031,265 shares in the company, valued at approximately $32,114,299.65. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,482 shares of company stock worth $6,758,490.

Institutional Investors Weigh In On Slide Insurance

A hedge fund recently bought a new stake in Slide Insurance stock. Opal Wealth Advisors LLC bought a new stake 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 Securities and Exchange Commission. The firm bought 2,469 shares of the company's stock, valued at approximately $53,000.

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”).