Slide Insurance (NASDAQ:SLDE) Given Sell (D+) Rating at Weiss Ratings

Key Points

• Slide Insurance (NASDAQ:SLDE) received a "sell (D+)" rating from Weiss Ratings, which indicates concerns about the company's stock performance.
• Despite the negative rating from Weiss, several analysts, including Morgan Stanley and Citizens Jmp, have upgraded their assessments, with price targets ranging from $18.00 to $25.00.
• Slide Insurance recently reported quarterly earnings, surpassing EPS estimates with $0.56, though revenue fell short of expectations at $261.61 million.

Slide Insurance (NASDAQ:SLDE - Get Free Report)'s stock had its "sell (d+)" rating reissued by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on SLDE. Morgan Stanley raised 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. Citizens Jmp started coverage on Slide Insurance in a report on Monday, July 14th. They set a "strong-buy" rating and a $25.00 price target for the company. Keefe, Bruyette & Woods upgraded Slide Insurance from a "market perform" rating to an "outperform" rating and cut their price objective for the stock from $20.00 to $19.00 in a research report on Thursday, September 18th. Barclays assumed coverage on Slide Insurance in a research report on Monday, July 14th. They issued an "overweight" rating and a $25.00 price objective for the company. Finally, JMP Securities set a $25.00 price target on Slide Insurance and gave the company a "market outperform" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Slide Insurance currently has an average rating of "Moderate Buy" and an average price target of $21.67.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $16.35 on Wednesday. The business's fifty day moving average is $15.04. Slide Insurance has a 52 week low of $12.53 and a 52 week high of $25.90.

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

Slide Insurance declared that its board has approved a stock repurchase program on Wednesday, August 27th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of SLDE. Opal Wealth Advisors LLC acquired a new stake in Slide Insurance during the 2nd quarter valued at $53,000. Instrumental Wealth LLC acquired a new stake in Slide Insurance during the 2nd quarter valued at $319,000. HBK Investments L P purchased a new stake in Slide Insurance during the 2nd quarter worth approximately $217,000. Boston Partners purchased a new stake in Slide Insurance during the 2nd quarter worth approximately $10,701,000. Finally, American Century Companies Inc. purchased a new stake in Slide Insurance during the 2nd quarter worth approximately $56,229,000.

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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