Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives $23.17 Consensus PT from Brokerages

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $23.1667.

Several brokerages have weighed in on SLDE. Piper Sandler increased their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Keefe, Bruyette & Woods increased their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley boosted their price target on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Finally, Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Wednesday.

Slide Insurance Stock Performance

SLDE opened at $17.97 on Thursday. The stock’s 50 day moving average is $16.22. Slide Insurance has a 1 year low of $12.53 and a 1 year high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced 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 company had revenue of $265.69 million during the quarter, compared to the consensus estimate of $279.36 million.

Slide Insurance declared that its board has initiated a stock buyback plan on Wednesday, August 27th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Slide Insurance

A number of large investors have recently modified their holdings of SLDE. FNY Investment Advisers LLC bought a new position in Slide Insurance in the second quarter worth about $26,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance in the 3rd quarter worth approximately $35,000. Opal Wealth Advisors LLC purchased a new position in shares of Slide Insurance in the 2nd quarter valued at approximately $53,000. Strs Ohio purchased a new position in shares of Slide Insurance in the 3rd quarter valued at approximately $77,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Slide Insurance during the third quarter valued at approximately $111,000.

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”).