Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Short Interest Update

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 4,061,198 shares, a growth of 19.8% from the January 15th total of 3,391,167 shares. Based on an average daily trading volume, of 874,141 shares, the days-to-cover ratio is presently 4.6 days. Currently, 3.3% of the company’s stock are sold short. Currently, 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 874,141 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Ratings Changes

Several research analysts have weighed in on the company. 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 report on Monday, November 17th. Keefe, Bruyette & Woods upped their target price on Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Piper Sandler increased their target price on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

Hedge Funds Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently modified their holdings of SLDE. American Century Companies Inc. bought a new stake in shares of Slide Insurance during the 2nd quarter valued at $56,229,000. Great Lakes Advisors LLC purchased a new position in Slide Insurance in the 3rd quarter worth about $3,113,000. HB Wealth Management LLC purchased a new stake in Slide Insurance in the third quarter worth approximately $955,000. Federated Hermes Inc. purchased a new position in shares of Slide Insurance in the 3rd quarter worth $9,471,000. Finally, Russell Investments Group Ltd. bought a new position in Slide Insurance in the second quarter valued at about $4,245,000.

Slide Insurance Trading Down 1.6%

Shares of NASDAQ:SLDE traded down $0.28 during midday trading on Wednesday, hitting $16.90. 438,277 shares of the stock traded hands, compared to its average volume of 879,624. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $17.68 and its two-hundred day moving average is $16.25. The stock has a market capitalization of $2.10 billion and a PE ratio of 12.52. Slide Insurance has a one year low of $12.53 and a one year high of $25.90.

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”). 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.