Insider Selling: Slide Insurance (NASDAQ:SLDE) COO Sells 9,763 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 9,763 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $18.44, for a total value of $180,029.72. Following the sale, the chief operating officer directly owned 1,553,108 shares of the company’s stock, valued at $28,639,311.52. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, March 16th, Shannon Lucas sold 22,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.13, for a total value of $407,925.00.
• On Wednesday, March 11th, Shannon Lucas sold 270 shares of Slide Insurance stock. The shares were sold at an average price of $17.42, for a total value of $4,703.40.
• On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $213,291.00.
• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $444,003.56.
• On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total value of $330,742.75.

Slide Insurance Stock Down 2.7%

SLDE traded down $0.49 during mid-day trading on Wednesday, reaching $17.75. 2,532,975 shares of the stock were exchanged, compared to its average volume of 2,236,213. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year 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. The stock has a market capitalization of $2.21 billion and a PE ratio of 6.88. The company has a 50 day moving average price of $17.38 and a two-hundred day moving average price of $16.63.

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

Hedge Funds Weigh In On Slide Insurance

Several large investors have recently modified their holdings of the business. Comerica Bank raised its position in shares of Slide Insurance by 3,462.2% in 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. CWM LLC bought a new position in shares of Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance in the third quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd purchased a new position in Slide Insurance during the fourth quarter valued at approximately $47,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Slide Insurance by 4,839.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after acquiring an additional 2,468 shares during the period.

Analyst Ratings Changes

SLDE has been the topic of several recent analyst reports. Piper Sandler lifted their target price 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Barclays increased their price target on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.