Key Points
- Director Stephen Rohde sold 9,335 shares of Slide Insurance on Feb. 27 at an average price of $18.83, a transaction totaling $175,778 that was disclosed in an SEC filing.
- Slide beat quarterly expectations, reporting $1.23 EPS vs. a $0.87 consensus on $347.01 million in revenue; the stock trades near $19.35 with a $2.41 billion market cap and a P/E of 14.33.
- Multiple analysts raised price targets and maintained bullish ratings (Barclays to $29, Piper Sandler to $24, Morgan Stanley to $21), leaving a MarketBeat consensus of a “Moderate Buy” and a $24.20 target.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Stephen Rohde sold 9,335 shares of the company's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $18.83, for a total transaction of $175,778.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Slide Insurance Stock Performance
SLDE opened at $19.35 on Wednesday. The company's 50 day moving average is $17.61 and its 200 day moving average is $16.33. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.41 billion and a price-to-earnings ratio of 14.33. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.36. The business had revenue of $347.01 million during the quarter.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in SLDE. Caitong International Asset Management Co. Ltd boosted its stake in Slide Insurance by 4,839.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock worth $49,000 after purchasing an additional 2,468 shares during the period. Invesco Ltd. raised its position in Slide Insurance by 35.1% during the fourth quarter. Invesco Ltd. now owns 20,066 shares of the company's stock valued at $391,000 after purchasing an additional 5,212 shares during the period. Vident Advisory LLC bought a new stake in shares of Slide Insurance in the 4th quarter valued at approximately $859,000. State of Tennessee Department of Treasury boosted its holdings in shares of Slide Insurance by 29.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 13,479 shares of the company's stock worth $263,000 after purchasing an additional 3,079 shares during the period. Finally, NewEdge Advisors LLC bought a new position in shares of Slide Insurance during the 4th quarter valued at approximately $1,277,000.
Wall Street Analyst Weigh In
A number of brokerages have commented on SLDE. Barclays upped their price target on Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Slide Insurance in a research note on Friday, December 26th. Zacks Research cut shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 16th. Piper Sandler lifted their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Finally, Morgan Stanley upped their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an "overweight" rating in a research report on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.20.
Read Our Latest Report on Slide Insurance
About Slide Insurance
(
Get Free Report)
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.
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