Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Receives $21.67 Consensus Target Price from Analysts

Shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $21.6667.

SLDE has been the subject of several recent research reports. Piper Sandler decreased their price target on Slide Insurance from $25.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, September 2nd. Citizens Jmp initiated coverage on Slide Insurance in a research note on Monday, July 14th. They issued a “strong-buy” rating and a $25.00 price target for the company. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Barclays began coverage on Slide Insurance in a research note on Monday, July 14th. They set an “overweight” rating and a $25.00 target price for the company. Finally, Citigroup began coverage on Slide Insurance in a research note on Monday, July 14th. They set an “outperform” rating for the company.

Institutional Investors Weigh In On Slide Insurance

Several large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Slide Insurance during the second quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Slide Insurance during the second quarter worth approximately $53,000. Man Group plc acquired a new stake in Slide Insurance during the second quarter worth approximately $210,000. HBK Investments L P acquired a new stake in Slide Insurance during the second quarter worth approximately $217,000. Finally, Levin Capital Strategies L.P. acquired a new stake in Slide Insurance during the second quarter worth approximately $217,000.

Slide Insurance Stock Up 1.2%

Slide Insurance stock opened at $15.73 on Wednesday. The company has a 50-day moving average price of $14.57. Slide Insurance has a 12 month low of $12.53 and a 12 month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, August 12th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.16. The company had revenue of $261.61 million during the quarter, compared to analyst estimates 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 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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”).