Piper Sandler Upgrades Slide Insurance (NASDAQ:SLDE) to Strong-Buy

Slide Insurance (NASDAQ:SLDE - Get Free Report) was upgraded by equities research analysts at Piper Sandler to a "strong-buy" rating in a research report issued to clients and investors on Sunday, Marketbeat reports.

Several other equities analysts have also commented on SLDE. Citizens Jmp initiated coverage on Slide Insurance in a research report on Monday. They set a "mkt outperform" rating and a $25.00 price target on the stock. Barclays assumed coverage on shares of Slide Insurance in a research note on Monday. They set an "overweight" rating and a $25.00 price target on the stock. Morgan Stanley began coverage on shares of Slide Insurance in a research report on Monday. They issued an "equal weight" rating and a $19.00 price objective for the company. JMP Securities set a $25.00 target price on Slide Insurance and gave the stock a "market outperform" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods raised Slide Insurance to a "hold" rating and set a $20.00 price target for the company in a report on Monday. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.17.

Slide Insurance Trading Down 4.7%

Slide Insurance stock traded down $0.91 during trading on Friday, hitting $18.53. The company's stock had a trading volume of 592,250 shares, compared to its average volume of 1,228,009. Slide Insurance has a 1-year low of $17.77 and a 1-year high of $25.90.

Insiders Place Their Bets

In other Slide Insurance news, Director Stephen L. Rohde sold 11,082 shares of the 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 sale, the director directly owned 9,335 shares of the company's stock, valued at approximately $147,586.35. This represents a 54.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Beth Witte Bruce sold 31,029 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $15.81, for a total transaction of $490,568.49. Following the sale, the director owned 251,645 shares in the company, valued at approximately $3,978,507.45. This trade represents a 10.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,482 shares of company stock valued at $6,758,490 over the last 90 days.

Institutional Investors Weigh In On Slide Insurance

A hedge fund recently bought a new stake in Slide Insurance stock. Opal Wealth Advisors LLC acquired a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 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”).