Rhumbline Advisers Buys New Position in Slide Insurance Holdings, Inc. $SLDE

Rhumbline Advisers purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,190 shares of the company’s stock, valued at approximately $445,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SLDE. Envestnet Asset Management Inc. purchased a new position in Slide Insurance during the 2nd quarter worth $1,333,000. Boston Partners bought a new position in shares of Slide Insurance during the second quarter valued at about $7,024,000. Geode Capital Management LLC purchased a new position in Slide Insurance during the second quarter worth about $2,245,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Slide Insurance in the 2nd quarter worth about $2,667,000. Finally, Legal & General Group Plc purchased a new stake in Slide Insurance in the 2nd quarter valued at about $216,000.

Analyst Upgrades and Downgrades

SLDE has been the topic of a number of research analyst reports. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Piper Sandler lifted their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Barclays lifted their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $24.20.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $19.47 on Friday. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.30. The business has a fifty day simple moving average of $17.61 and a two-hundred day simple moving average of $16.38. The company has a market capitalization of $2.42 billion and a P/E ratio of 7.55.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Insider Activity

In other news, Director Beth Witte Bruce sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $18.94, for a total value of $473,500.00. Following the sale, the director owned 226,645 shares of the company’s stock, valued at $4,292,656.30. The trade was a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen L. Rohde sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $19.50, for a total transaction of $97,500.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,585 shares of company stock valued at $960,641 over the last quarter.

Slide Insurance 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”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.