Slide Insurance (NASDAQ:SLDE – Get Free Report) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, Marketbeat reports. The brokerage currently has a $18.00 target price on the stock. Morgan Stanley’s price target would suggest a potential upside of 20.32% from the company’s current price.
SLDE has been the subject of several other research reports. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. Citizens Jmp started coverage on Slide Insurance in a research report on Monday, July 14th. They set a “strong-buy” rating and a $25.00 price target for the company. Barclays started coverage on Slide Insurance in a research report on Monday, July 14th. They set an “overweight” rating and a $25.00 price target for the company. Piper Sandler dropped their price target on Slide Insurance from $25.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, September 2nd. Finally, JMP Securities set a $25.00 price target on Slide Insurance and gave the stock a “market outperform” rating in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $21.67.
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Slide Insurance Stock Down 0.7%
Shares of SLDE stock opened at $14.96 on Thursday. The business’s fifty day moving average price is $15.61. Slide Insurance has a 1 year low of $12.53 and a 1 year high of $25.90.
Slide Insurance (NASDAQ:SLDE – Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.16. The firm had revenue of $261.61 million for the quarter, compared to analyst estimates of $271.18 million.
Slide Insurance declared that its board has approved a stock buyback program on Wednesday, August 27th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. American Century Companies Inc. acquired a new position in shares of Slide Insurance in the second quarter worth about $56,229,000. Raymond James Financial Inc. acquired a new position in shares of Slide Insurance in the second quarter worth about $33,063,000. Hood River Capital Management LLC bought a new stake in Slide Insurance in the second quarter valued at about $31,542,000. Boston Partners bought a new stake in Slide Insurance in the second quarter valued at about $10,701,000. Finally, Squarepoint Ops LLC bought a new stake in Slide Insurance in the second quarter valued at about $9,964,000.
About Slide Insurance
(Get Free Report)
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”).
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Morgan Stanley Upgrades Slide Insurance (NASDAQ:SLDE) to Overweight
