Hood River Capital Management LLC Takes Position in Slide Insurance Holdings, Inc. $SLDE

by · The Markets Daily

Hood River Capital Management LLC purchased a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm purchased 1,456,254 shares of the company’s stock, valued at approximately $31,542,000.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. acquired a new position in shares of Slide Insurance during the 2nd quarter worth approximately $56,229,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Slide Insurance in the 2nd quarter valued at $4,387,000. Envestnet Asset Management Inc. purchased a new stake in Slide Insurance in the 2nd quarter worth $1,333,000. Stratos Wealth Partners LTD. acquired a new position in Slide Insurance during the second quarter worth $238,000. Finally, Emerald Advisers LLC acquired a new position in Slide Insurance during the second quarter worth $708,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on SLDE shares. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Piper Sandler raised their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley boosted their price objective on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Slide Insurance in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Slide Insurance has an average rating of “Buy” and a consensus target price of $23.17.

Check Out Our Latest Report on Slide Insurance

Slide Insurance Trading Up 0.7%

SLDE opened at $16.13 on Monday. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The stock’s 50-day simple moving average is $15.95.

Slide Insurance (NASDAQ:SLDE – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.30. The business had revenue of $265.69 million during the quarter, compared to analysts’ expectations of $279.36 million.

Slide Insurance declared that its board has authorized a share buyback program on Wednesday, August 27th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Slide Insurance Company Profile

(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”).

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