Walleye Capital LLC Makes New Investment in Slide Insurance Holdings, Inc. $SLDE

Walleye Capital LLC bought a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 49,343 shares of the company’s stock, valued at approximately $1,069,000.

Other large investors also recently made changes to their positions in the company. HBK Investments L P purchased a new stake in shares of Slide Insurance in the second quarter worth approximately $217,000. Norges Bank acquired a new position in Slide Insurance in the 2nd quarter valued at approximately $866,000. Russell Investments Group Ltd. acquired a new position in Slide Insurance in the 2nd quarter valued at approximately $4,245,000. Boston Partners purchased a new stake in Slide Insurance in the 2nd quarter worth approximately $10,701,000. Finally, American Century Companies Inc. acquired a new stake in shares of Slide Insurance during the 2nd quarter valued at $56,229,000.

Slide Insurance Price Performance

Slide Insurance stock opened at $18.43 on Thursday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The stock’s fifty day moving average price is $16.10.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.30. The business had revenue of $265.69 million during the quarter, compared to the consensus estimate of $279.36 million.

Slide Insurance announced that its Board of Directors has approved a stock buyback plan on Wednesday, August 27th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SLDE shares. Morgan Stanley boosted their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Keefe, Bruyette & Woods upped their target price on Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Piper Sandler raised their price target on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Slide Insurance in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Slide Insurance currently has a consensus rating of “Buy” and an average price target of $23.17.

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”).