World Investment Advisors Invests $1.96 Million in Slide Insurance Holdings, Inc. $SLDE

World Investment Advisors acquired a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 100,837 shares of the company’s stock, valued at approximately $1,964,000. World Investment Advisors owned 0.08% of Slide Insurance at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Comerica Bank grew its stake 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 worth $26,000 after purchasing an additional 1,281 shares in the last quarter. CWM LLC acquired a new position in shares of Slide Insurance during the fourth quarter worth $35,000. Ameritas Investment Partners Inc. acquired a new position in shares of Slide Insurance during the third quarter worth $35,000. Strs Ohio acquired a new position in shares of Slide Insurance during the third quarter worth $77,000. Finally, SG Americas Securities LLC grew its stake in shares of Slide Insurance by 30.1% during the fourth quarter. SG Americas Securities LLC now owns 24,103 shares of the company’s stock worth $470,000 after purchasing an additional 5,576 shares in the last quarter.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $18.80 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a market capitalization of $2.15 billion and a PE ratio of 5.22. The company has a fifty day moving average of $18.20 and a two-hundred day moving average of $17.62.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The company had revenue of $389.28 million during the quarter. As a group, analysts expect that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance declared that its board has initiated a stock repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Slide Insurance

In other Slide Insurance news, CEO Bruce Lucas sold 273,702 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $18.11, for a total value of $4,956,743.22. Following the completion of the transaction, the chief executive officer owned 37,620,933 shares in the company, valued at $681,315,096.63. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 4,196,928 shares of company stock valued at $77,562,040 in the last three months. Corporate insiders own 50.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SLDE. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Barclays boosted their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods boosted 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, March 9th. Piper Sandler boosted their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Slide Insurance 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.