Morgan Stanley Begins Coverage on Slide Insurance (NASDAQ:SLDE)

Equities research analysts at Morgan Stanley began coverage on shares of Slide Insurance (NASDAQ:SLDE) in a research note issued to investors on Monday, Marketbeat reports. The firm set an “equal weight” rating and a $19.00 price target on the stock. Morgan Stanley’s target price points to a potential upside of 2.54% from the stock’s previous close.

A number of other analysts also recently commented on SLDE. Piper Sandler started coverage on shares of Slide Insurance in a report on Sunday. They set an “overweight” rating and a $25.00 price objective on the stock. Wall Street Zen raised Slide Insurance to a “hold” rating in a research note on Saturday, July 5th. Finally, Citigroup assumed coverage on Slide Insurance in a research note on Monday. They issued an “outperform” rating for the company. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.17.

Slide Insurance Price Performance

Slide Insurance stock opened at $18.53 on Monday. Slide Insurance has a one year low of $17.77 and a one year high of $25.90.

Insider Transactions at Slide Insurance

In related news, Director Beth Witte Bruce sold 31,029 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $15.81, for a total value of $490,568.49. Following the sale, the director owned 251,645 shares of the company’s stock, valued at approximately $3,978,507.45. This represents a 10.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen L. Rohde sold 11,082 shares of the firm’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $15.81, for a total value of $175,206.42. Following the transaction, the director directly owned 9,335 shares of the company’s stock, valued at $147,586.35. The trade was a 54.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,482 shares of company stock valued at $6,758,490 in the last ninety days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Slide Insurance stock. Opal Wealth Advisors LLC purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,469 shares of the company’s stock, valued at approximately $53,000.

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”).