Slide Insurance (NASDAQ:SLDE) Hits New 52-Week Low - Should You Sell?

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) reached a new 52-week low on Wednesday . The stock traded as low as $17.77 and last traded at $17.83, with a volume of 56437 shares traded. The stock had previously closed at $18.53.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SLDE. Keefe, Bruyette & Woods upgraded Slide Insurance to a "hold" rating and set a $20.00 target price on the stock in a research note 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. JMP Securities set a $25.00 target price on shares of Slide Insurance and gave the company a "market outperform" rating in a report on Monday, July 14th. Barclays initiated coverage on Slide Insurance in a research note on Monday, July 14th. They set an "overweight" rating and a $25.00 price objective for the company. Finally, Citigroup started coverage on shares of Slide Insurance in a research note on Monday, July 14th. They issued an "outperform" rating on the stock. Three analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Slide Insurance presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.17.

Slide Insurance Price Performance

Insider Transactions at Slide Insurance

In other Slide Insurance news, Director Robert Gries, Jr. sold 358,457 shares of the 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen L. Rohde sold 11,082 shares of Slide Insurance stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $15.81, for a total value of $175,206.42. Following the completion of the sale, the director directly owned 9,335 shares in the company, valued at $147,586.35. This represents a 54.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 427,482 shares of company stock worth $6,758,490 over the last 90 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Slide Insurance stock. Instrumental Wealth LLC acquired a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,705 shares of the company's stock, valued at approximately $319,000.

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”).