Slide Insurance (NASDAQ:SLDE) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Slide Insurance (NASDAQ:SLDE - Free Report) in a research report report published on Monday, MarketBeat reports. The brokerage issued an equal weight rating and a $19.00 target price on the stock.

Several other brokerages also recently weighed in on SLDE. Wall Street Zen raised shares of Slide Insurance to a "hold" rating in a research note on Saturday, July 5th. Citigroup initiated coverage on shares of Slide Insurance in a research note on Monday. They set an "outperform" rating on the stock. Finally, Piper Sandler initiated coverage on shares of Slide Insurance in a research report on Sunday. They issued an "overweight" rating and a $25.00 price objective on the stock. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $23.17.

Slide Insurance Stock Down 1.5%

SLDE traded down $0.28 during trading hours on Monday, hitting $18.62. 206,777 shares of the company's stock were exchanged, compared to its average volume of 1,149,761. Slide Insurance has a 12-month low of $17.30 and a 12-month high of $25.90.

Insider Buying and Selling at Slide Insurance

In other news, Director Robert Gries, Jr. sold 358,457 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.81, for a total value 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. This represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen L. Rohde sold 11,082 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $15.81, for a total transaction of $175,206.42. Following the completion of the transaction, the director owned 9,335 shares of the company's stock, valued at approximately $147,586.35. The trade was a 54.28% decrease in their position. 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

An institutional investor recently bought a new position in Slide Insurance stock. Opal Wealth Advisors LLC bought a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,469 shares of the company's stock, valued at approximately $53,000.

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”).