Slide Insurance (NASDAQ:SLDE) Downgraded by Zacks Research to “Hold”

by · The Markets Daily

Zacks Research downgraded shares of Slide Insurance (NASDAQ:SLDE – Free Report) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

SLDE has been the topic of several other reports. Weiss Ratings restated a “sell (d+)” rating on shares of Slide Insurance in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Morgan Stanley boosted their target price on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Piper Sandler increased their price target on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Slide Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.17.

Read Our Latest Stock Analysis on Slide Insurance

Slide Insurance Stock Down 0.5%

NASDAQ SLDE opened at $18.34 on Wednesday. Slide Insurance has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a 50 day simple moving average of $16.17.

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

Slide Insurance declared that its Board of Directors has approved a stock buyback program on Wednesday, August 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in Slide Insurance during the 2nd quarter valued at $26,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance during the 3rd quarter worth about $35,000. Opal Wealth Advisors LLC acquired a new position in shares of Slide Insurance during the second quarter valued at about $53,000. Strs Ohio acquired a new position in shares of Slide Insurance during the third quarter valued at about $77,000. Finally, BNP Paribas Financial Markets acquired a new stake in Slide Insurance during the third quarter worth about $111,000.

Slide Insurance Company Profile

(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”).

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