Slide Insurance (NASDAQ:SLDE) Stock Gets Price Target Boost from Citizens Jmp

Slide Insurance (NASDAQ:SLDE) had its target price boosted by investment analysts at Citizens Jmp from $27.00 to $28.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price target suggests a potential upside of 9.80% from the company’s previous close.

A number of other analysts also recently weighed in on SLDE. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Citigroup reissued an “outperform” rating on shares of Slide Insurance in a research note on Monday. Barclays lifted their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Slide Insurance Price Performance

SLDE opened at $25.50 on Monday. The stock has a 50-day moving average price of $23.52 and a 200-day moving average price of $20.45. Slide Insurance has a 12-month low of $14.20 and a 12-month high of $26.75. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2.98 billion, a P/E ratio of 6.23 and a beta of 0.13.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.88 by $0.18. The firm had revenue of $386.82 million for the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. Equities analysts predict that Slide Insurance will post 3.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Matthew Larson sold 11,374 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $24.62, for a total transaction of $280,027.88. Following the completion of the sale, the insider directly owned 11,374 shares in the company, valued at $280,027.88. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen L. Rohde sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $26.40, for a total value of $198,000.00. Following the transaction, the director owned 7,500 shares in the company, valued at approximately $198,000. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 245,142 shares of company stock worth $5,849,534 in the last ninety days. Corporate insiders own 50.80% of the company’s stock.

Institutional Trading of Slide Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of SLDE. WINTON GROUP Ltd increased its stake in shares of Slide Insurance by 153.5% in the second quarter. WINTON GROUP Ltd now owns 28,500 shares of the company’s stock worth $552,000 after buying an additional 17,256 shares during the period. Engineers Gate Manager LP purchased a new stake in Slide Insurance during the 2nd quarter valued at $688,000. Allianz Asset Management GmbH purchased a new stake in Slide Insurance during the 2nd quarter valued at $14,530,000. Corient Private Wealth LP grew its holdings in Slide Insurance by 12.3% in the 2nd quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock worth $765,000 after acquiring an additional 4,323 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Slide Insurance in the 2nd quarter worth $836,000.

About Slide Insurance

Slide Insurance is a technology-enabled property and casualty insurance company focused primarily on homeowners insurance. The company uses data, analytics and digital tools to provide coverage, manage policies and support claims for residential property owners.

Its products are designed for homeowners and may include coverage for the dwelling, personal property, liability and related risks, subject to the terms of each policy. Slide operates in catastrophe-exposed property insurance markets, where technology and risk-management capabilities are important to underwriting and claims administration.

Slide was founded by Bruce Lucas, an insurance industry executive who previously led Heritage Insurance Holdings.