Slide Insurance (NASDAQ:SLDE) Stock Rating Upgraded by Wall Street Zen

Slide Insurance (NASDAQ:SLDE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Other research analysts have also issued reports about the company. Weiss Ratings raised Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a report on Thursday, July 30th. Barclays boosted their price target on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Citizens Jmp raised their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Slide Insurance has a consensus rating of “Buy” and a consensus price target of $25.40.

Slide Insurance Stock Performance

Slide Insurance stock opened at $24.95 on Friday. The company’s fifty day simple moving average is $22.39 and its 200-day simple moving average is $19.73. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. Slide Insurance has a 12 month low of $13.26 and a 12 month high of $26.75. The stock has a market cap of $2.91 billion, a P/E ratio of 6.09 and a beta of 0.07.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The business had revenue of $386.82 million for the quarter. As a group, sell-side analysts forecast that Slide Insurance will post 3.79 EPS for the current fiscal year.

Insider Transactions at Slide Insurance

In other Slide Insurance news, insider Matthew Larson sold 11,374 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $24.62, for a total value of $280,027.88. Following the sale, the insider owned 11,374 shares of the company’s stock, valued at $280,027.88. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew Wright sold 31,002 shares of Slide Insurance stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $18.01, for a total value of $558,346.02. Following the completion of the transaction, the director directly owned 48,998 shares in the company, valued at approximately $882,453.98. This represents a 38.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 418,992 shares of company stock worth $9,301,056. Company insiders own 50.80% of the company’s stock.

Institutional Investors Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd raised its stake in Slide Insurance by 153.5% during the 2nd quarter. WINTON GROUP Ltd now owns 28,500 shares of the company’s stock valued at $552,000 after purchasing an additional 17,256 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Slide Insurance in the 2nd quarter worth $688,000. Allianz Asset Management GmbH bought a new position in shares of Slide Insurance during the 2nd quarter worth about $14,530,000. Corient Private Wealth LP increased its holdings in shares of Slide Insurance by 12.3% during the 2nd quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock worth $765,000 after purchasing an additional 4,323 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Slide Insurance during the second quarter valued at about $836,000.

Slide Insurance Company Profile

Slide Insurance is a technology-enabled property and casualty insurance company focused on personal residential coverage. Through its insurance operations, the company provides homeowners insurance and related products designed to protect homes and personal property against covered risks, including weather-related events.

Slide uses data-driven underwriting, digital tools and automated claims and policy-management capabilities to support the distribution and servicing of insurance policies.