Slide Insurance (NASDAQ:SLDE) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Slide Insurance (NASDAQ:SLDE) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other research firms also recently issued reports on SLDE. Citizens Jmp started coverage on shares of 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. JMP Securities set a $25.00 price target on shares of Slide Insurance and gave the company a “market outperform” rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods upgraded shares of Slide Insurance to a “hold” rating and set a $20.00 price target for the company in a research report on Monday, July 14th. Barclays started coverage on shares of Slide Insurance in a research report on Monday, July 14th. They set an “overweight” rating and a $25.00 price target for the company. Finally, Citigroup started coverage on Slide Insurance in a research report on Monday, July 14th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Slide Insurance Price Performance

SLDE stock opened at $14.54 on Friday. The firm’s 50 day moving average is $19.03. Slide Insurance has a 12-month low of $14.45 and a 12-month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.16. The company had revenue of $261.61 million for the quarter, compared to analyst estimates of $271.18 million.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP purchased a new position in shares of Slide Insurance during the 2nd quarter worth $1,668,000. Oxford Asset Management LLP purchased a new position in shares of Slide Insurance during the 2nd quarter worth $696,000. Man Group plc purchased a new position in shares of Slide Insurance during the 2nd quarter worth $210,000. LMR Partners LLP purchased a new position in shares of Slide Insurance during the 2nd quarter worth $4,222,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Slide Insurance during the 2nd quarter worth $7,196,000.

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”).