Slide Insurance (NASDAQ:SLDE) Upgraded to "Buy" at Wall Street Zen

Key Points

• Slide Insurance (NASDAQ: SLDE) was upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, reflecting increased positive sentiment towards the stock.
• The stock has an average target price of $23.17 and has been rated positively by multiple analysts, with four assigning a buy rating and two a strong buy rating.
• In recent trading, Slide Insurance's stock opened at $14.55, with a 52-week range between $14.45 and $25.90, indicating significant potential for price appreciation.

Wall Street Zen upgraded shares of Slide Insurance (NASDAQ:SLDE - Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

SLDE has been the topic of a number of other research reports. JMP Securities set a $25.00 price objective on Slide Insurance and gave the stock a "market outperform" rating in a report on Monday, July 14th. Morgan Stanley began coverage on Slide Insurance in a report on Monday, July 14th. They set an "equal weight" rating and a $19.00 price objective on the stock. Citigroup began coverage on Slide Insurance in a report on Monday, July 14th. They set an "outperform" rating on the stock. Keefe, Bruyette & Woods raised Slide Insurance to a "hold" rating and set a $20.00 price objective on the stock in a report on Monday, July 14th. Finally, Barclays began coverage on Slide Insurance in a report on Monday, July 14th. They set an "overweight" rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Slide Insurance Trading Up 1.9%

Shares of NASDAQ:SLDE traded up $0.27 during trading on Friday, reaching $14.51. The company had a trading volume of 612,799 shares, compared to its average volume of 521,162. The firm's fifty day moving average price is $18.83. Slide Insurance has a fifty-two week low of $14.10 and a fifty-two 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.16. The business had revenue of $261.61 million for the quarter, compared to analyst estimates of $271.18 million.

Insiders Place Their Bets

In other Slide Insurance news, Director Robert Gries, Jr. sold 358,457 shares of the business's stock in a transaction 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 sale, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Beth Witte Bruce sold 31,029 shares of the business's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $15.81, for a total value of $490,568.49. Following the sale, the director owned 251,645 shares in the company, valued at approximately $3,978,507.45. The trade was a 10.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 427,482 shares of company stock worth $6,758,490.

Institutional Trading of Slide Insurance

Several institutional investors and hedge funds have recently made changes to their positions in SLDE. Opal Wealth Advisors LLC purchased a new stake in shares of Slide Insurance in the second quarter valued at $53,000. Instrumental Wealth LLC purchased a new stake in shares of Slide Insurance in the second quarter valued at $319,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Slide Insurance in the second quarter valued at $238,000. FNY Investment Advisers LLC purchased a new stake in shares of Slide Insurance in the second quarter valued at $26,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Slide Insurance in the second quarter valued at $1,333,000.

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”).