Slide Insurance Holdings, Inc.’s (NASDAQ:SLDE) Quiet Period Will End Tomorrow

Slide Insurance’s (NASDAQ:SLDE) quiet period is set to expire on Monday, July 28th. Slide Insurance had issued 24,000,000 shares in its IPO on June 18th. The total size of the offering was $408,000,000 based on an initial share price of $17.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SLDE shares. Citizens Jmp started coverage on Slide Insurance in a research report on Monday, July 14th. They set a “strong-buy” rating and a $25.00 price target for the company. Piper Sandler assumed coverage on Slide Insurance in a research report on Sunday, July 13th. They issued an “overweight” rating and a $25.00 target price for the company. Barclays assumed coverage on Slide Insurance in a research report on Monday, July 14th. They issued an “overweight” rating and a $25.00 target price for the company. Citigroup began coverage on Slide Insurance in a research report on Monday, July 14th. They issued an “outperform” rating for the company. Finally, JMP Securities set a $25.00 target price on Slide Insurance and gave the company a “market outperform” rating in a research note on Monday, July 14th. Three equities research 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, Slide Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.17.

Slide Insurance Price Performance

Slide Insurance stock opened at $19.94 on Friday. Slide Insurance has a one year low of $17.30 and a one year high of $25.90.

Insiders Place Their Bets

In other Slide Insurance news, Director Beth Witte Bruce sold 31,029 shares of the company’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $15.81, for a total value of $490,568.49. Following the completion of the sale, the director owned 251,645 shares in the company, valued at $3,978,507.45. This represents a 10.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert Gries, Jr. sold 358,457 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.81, for a total value of $5,667,205.17. Following the completion of the sale, the director owned 2,031,265 shares of the company’s stock, valued at approximately $32,114,299.65. The trade was a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,482 shares of company stock worth $6,758,490 over the last quarter.

Hedge Funds 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) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,469 shares of the company’s stock, valued at approximately $53,000.

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”).