FNY Investment Advisers LLC Takes Position in Slide Insurance Holdings, Inc. $SLDE

FNY Investment Advisers LLC acquired a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,218 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in shares of Slide Insurance in the second quarter worth about $53,000. Stratos Wealth Partners LTD. purchased a new stake in Slide Insurance in the 2nd quarter worth approximately $238,000. Finally, Instrumental Wealth LLC bought a new stake in shares of Slide Insurance in the 2nd quarter worth approximately $319,000.

Slide Insurance Stock Up 1.2%

Shares of SLDE opened at $15.73 on Friday. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The business has a 50-day moving average of $14.57.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.40 by $0.16. The company had revenue of $261.61 million during the quarter, compared to analysts’ expectations of $271.18 million.

Slide Insurance announced that its board has approved a stock repurchase program on Wednesday, August 27th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

SLDE has been the subject of a number of research analyst reports. Morgan Stanley raised Slide Insurance from an “equal weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Slide Insurance in a research report on Wednesday, October 8th. Barclays began coverage on shares of Slide Insurance in a research note on Monday, July 14th. They set an “overweight” rating and a $25.00 target price on the stock. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Keefe, Bruyette & Woods upgraded shares of Slide Insurance from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $20.00 to $19.00 in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.67.

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”).