Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 172,644 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 172,644 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $19.37, for a total value of $3,344,114.28. Following the completion of the sale, the chief executive officer directly owned 39,702,356 shares in the company, valued at $769,034,635.72. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bruce Lucas also recently made the following trade(s):

• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total transaction of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $4,489,354.87.

Slide Insurance Price Performance

Shares of Slide Insurance stock traded down $0.78 during midday trading on Monday, hitting $17.70. 2,983,290 shares of the company traded hands, compared to its average volume of 1,682,143. The firm’s fifty day moving average price is $17.55 and its 200-day moving average price is $16.45. The stock has a market cap of $2.20 billion and a price-to-earnings ratio of 6.86. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLDE. Comerica Bank raised its holdings in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Slide Insurance by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after acquiring an additional 1,704 shares in the last quarter. CWM LLC acquired a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the third quarter valued at approximately $35,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Slide Insurance during the fourth quarter worth approximately $47,000.

Analyst Upgrades and Downgrades

SLDE has been the subject of a number of research reports. Morgan Stanley increased their price target on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Barclays increased their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Piper Sandler increased their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods lifted their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.40.

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.