Centiva Capital LP Takes Position in Slide Insurance Holdings, Inc. $SLDE

Centiva Capital LP bought a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 40,142 shares of the company’s stock, valued at approximately $634,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in shares of Slide Insurance in the second quarter worth $1,333,000. Geode Capital Management LLC acquired a new position in Slide Insurance during the 2nd quarter worth $2,245,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Slide Insurance during the 2nd quarter worth $2,667,000. Legal & General Group Plc purchased a new stake in Slide Insurance during the 2nd quarter worth about $216,000. Finally, American Century Companies Inc. acquired a new stake in Slide Insurance in the 2nd quarter valued at about $56,229,000.

Slide Insurance Stock Performance

Shares of Slide Insurance stock opened at $17.65 on Monday. The stock has a market capitalization of $2.19 billion and a price-to-earnings ratio of 6.84. The firm’s fifty day simple moving average is $17.41 and its 200-day simple moving average is $16.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The business had revenue of $347.01 million during the quarter.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SLDE shares. Morgan Stanley upped their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Piper Sandler raised their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Finally, Barclays increased their price objective on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Six equities research 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, Slide Insurance presently has an average rating of “Moderate Buy” and a consensus price target of $24.40.

Insider Activity

In other news, Director Stephen L. Rohde sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $19.50, for a total value of $97,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthew Paul Larson sold 11,250 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $19.01, for a total value of $213,862.50. The SEC filing for this sale provides additional information. Insiders sold 638,681 shares of company stock worth $11,991,016 over the last quarter.

Slide Insurance Profile

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.