Insider Selling: Slide Insurance (NASDAQ:SLDE) Insider Sells $213,862.50 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 11,250 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $19.01, for a total value of $213,862.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Slide Insurance Trading Down 5.1%

NASDAQ SLDE opened at $18.48 on Friday. The company has a market cap of $2.30 billion and a PE ratio of 7.16. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90. The stock has a 50 day moving average of $17.59 and a 200-day moving average of $16.42.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors increased its stake in shares of Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after purchasing an additional 1,483,180 shares during the period. Vanguard Group Inc. grew its holdings in Slide Insurance by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after buying an additional 354,321 shares in the last quarter. American Century Companies Inc. acquired a new position in Slide Insurance in the 2nd quarter valued at $56,229,000. Balyasny Asset Management L.P. increased its position in Slide Insurance by 27.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after buying an additional 380,161 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Slide Insurance during the 2nd quarter worth $33,063,000.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SLDE shares. Piper Sandler upped their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Morgan Stanley boosted their price target on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Barclays lifted their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Slide Insurance has an average rating of “Moderate Buy” and an average price target of $24.20.

Slide Insurance Company Profile

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.