Slide Insurance (NASDAQ:SLDE) Upgraded at Texas Capital

Slide Insurance (NASDAQ:SLDE) was upgraded by research analysts at Texas Capital to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

SLDE has been the topic of a number of other reports. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Barclays lifted their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Piper Sandler increased their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $24.40.

Slide Insurance Trading Down 5.4%

Slide Insurance stock opened at $16.37 on Wednesday. Slide Insurance has a 52 week low of $12.53 and a 52 week high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $2.04 billion and a P/E ratio of 6.34. The stock has a 50-day simple moving average of $17.32 and a 200 day simple moving average of $16.66.

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

Insider Transactions at Slide Insurance

In related news, Director Beth Witte Bruce sold 25,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $18.94, for a total value of $473,500.00. Following the transaction, the director directly owned 226,645 shares in the company, valued at approximately $4,292,656.30. This represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Gries, Jr. sold 28,212 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $18.35, for a total transaction of $517,690.20. Following the transaction, the director directly owned 2,003,053 shares in the company, valued at approximately $36,756,022.55. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,025,372 shares of company stock worth $19,041,559 over the last quarter.

Institutional Trading of Slide Insurance

Institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new position in shares of Slide Insurance during the 4th quarter worth approximately $382,000. World Investment Advisors acquired a new stake in shares of Slide Insurance in the fourth quarter valued at approximately $1,964,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after buying an additional 2,468 shares during the period. Invesco Ltd. grew its position in Slide Insurance by 35.1% during the fourth quarter. Invesco Ltd. now owns 20,066 shares of the company’s stock worth $391,000 after buying an additional 5,212 shares in the last quarter. Finally, Vident Advisory LLC acquired a new stake in Slide Insurance during the fourth quarter worth approximately $859,000.

Slide Insurance Company 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.