Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Short Interest Down 22.0% in December

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 3,628,260 shares, a decline of 22.0% from the December 15th total of 4,653,470 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,522,481 shares, the days-to-cover ratio is currently 2.4 days. Based on an average daily trading volume, of 1,522,481 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Slide Insurance

Large investors have recently bought and sold shares of the stock. Capital World Investors raised its holdings in shares of Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after purchasing an additional 1,483,180 shares during the period. American Century Companies Inc. bought a new stake in Slide Insurance in the 2nd quarter valued at about $56,229,000. Vanguard Group Inc. raised its stake in Slide Insurance by 25.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,407,498 shares of the company’s stock worth $38,002,000 after buying an additional 484,542 shares during the period. Raymond James Financial Inc. bought a new position in Slide Insurance in the second quarter worth approximately $33,063,000. Finally, Hood River Capital Management LLC acquired a new stake in Slide Insurance in the second quarter valued at approximately $31,542,000.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SLDE. Morgan Stanley raised their price objective on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Keefe, Bruyette & Woods lifted their price target on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, Piper Sandler boosted their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.17.

Slide Insurance Trading Up 0.7%

Slide Insurance stock traded up $0.12 during trading hours on Monday, reaching $16.29. 842,092 shares of the company’s stock were exchanged, compared to its average volume of 960,523. The firm has a market capitalization of $2.02 billion and a PE ratio of 12.07. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.04. The firm’s 50 day simple moving average is $17.61 and its 200 day simple moving average is $16.62. Slide Insurance has a twelve month low of $12.53 and a twelve month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Wednesday, November 5th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.49 by $0.30. The business had revenue of $265.69 million for the quarter, compared to analyst estimates of $279.36 million.

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.