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

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) saw a large decrease in short interest in December. As of December 31st, there was short interest totaling 3,628,260 shares, a decrease of 22.0% from the December 15th total of 4,653,470 shares. Currently, 2.9% of the shares of the company are short sold. Based on an average trading volume of 1,522,481 shares, the days-to-cover ratio is presently 2.4 days. Based on an average trading volume of 1,522,481 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.9% of the shares of the company are short sold.

Slide Insurance Trading Up 0.7%

Shares of Slide Insurance stock traded up $0.12 on Friday, reaching $16.29. The company had a trading volume of 842,092 shares, compared to its average volume of 960,523. The firm has a market cap of $2.02 billion and a price-to-earnings ratio of 12.07. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s 50-day moving average price is $17.61 and its two-hundred day moving average price is $16.65. Slide Insurance has a 1 year low of $12.53 and a 1 year high of $25.90.

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

Institutional Investors Weigh In On Slide Insurance

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler 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 Thursday, November 6th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Morgan Stanley raised their price target on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Slide Insurance presently has an average rating of “Buy” and an average price target of $23.17.

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.