Slide Insurance (NASDAQ:SLDE) Stock Gets Downgrade from Wall Street Zen

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

A number of other equities research analysts have also issued reports on SLDE. Weiss Ratings raised Slide Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Barclays boosted their price target on shares of Slide Insurance from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citizens Jmp raised their price objective on Slide Insurance from $28.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday. Raymond James Financial set a $35.00 target price on shares of Slide Insurance in a report on Wednesday. Finally, Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Slide Insurance has a consensus rating of “Moderate Buy” and an average price target of $28.33.

Slide Insurance Trading Up 0.7%

Shares of SLDE stock opened at $27.73 on Friday. The company’s 50-day moving average price is $25.01 and its 200-day moving average price is $20.15. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 6.30 and a beta of 0.13. Slide Insurance has a twelve month low of $15.11 and a twelve month high of $29.15.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, October 27th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.44. The company had revenue of $361.05 million for the quarter, compared to the consensus estimate of $398.08 million. Slide Insurance had a return on equity of 51.12% and a net margin of 39.28%. As a group, equities analysts predict that Slide Insurance will post 3.84 earnings per share for the current year.

Insider Transactions at Slide Insurance

In related news, insider Matthew Larson sold 11,150 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $27.55, for a total transaction of $307,182.50. Following the completion of the transaction, the insider directly owned 11,150 shares in the company, valued at $307,182.50. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Gries, Jr. sold 61,762 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $24.28, for a total transaction of $1,499,581.36. Following the completion of the sale, the director directly owned 1,523,449 shares in the company, valued at approximately $36,989,341.72. This trade represents a 3.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 253,892 shares of company stock worth $6,128,294. 50.80% of the stock is owned by corporate insiders.

Institutional Trading of Slide Insurance

Institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in Slide Insurance during the 2nd quarter valued at $39,000. Meeder Asset Management Inc. purchased a new stake in Slide Insurance during the second quarter valued at about $40,000. State of Wyoming acquired a new position in Slide Insurance in the 1st quarter worth approximately $42,000. Public Employees Retirement System of Ohio purchased a new position in shares of Slide Insurance during the second quarter valued at $85,000. Finally, Royal Bank of Canada increased its holdings in shares of Slide Insurance by 221.0% in the 1st quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock valued at $109,000 after purchasing an additional 4,126 shares during the period.

Slide Insurance Company Profile

Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.

Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.