Shannon Lucas Sells 27,000 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 27,000 shares of Slide Insurance stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $18.97, for a total value of $512,190.00. Following the completion of the transaction, the chief operating officer owned 1,183,300 shares of the company’s stock, valued at approximately $22,447,201. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, May 18th, Shannon Lucas sold 45,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total value of $857,700.00.
• On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total value of $502,877.28.
• On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total value of $168,840.00.
• On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total value of $322,422.21.
• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $125,495.36.
• On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $158,606.50.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total value of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total transaction of $288,853.94.
• On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $253,125.00.
• On Monday, April 20th, Shannon Lucas sold 11,676 shares of Slide Insurance stock. The stock was sold at an average price of $19.55, for a total transaction of $228,265.80.

Slide Insurance Trading Up 1.1%

Shares of NASDAQ:SLDE opened at $18.68 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $18.21 and its 200 day moving average price is $17.70. The company has a market cap of $2.14 billion and a PE ratio of 5.19. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, topping 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 firm had revenue of $389.28 million during the quarter. Sell-side analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLDE. Great Lakes Advisors LLC bought a new stake in shares of Slide Insurance in the 3rd quarter worth approximately $3,113,000. Fifth Third Bancorp boosted its holdings in Slide Insurance by 529,826.4% during the fourth quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock worth $7,433,000 after buying an additional 381,475 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new position in Slide Insurance in the fourth quarter worth approximately $2,235,000. Federated Hermes Inc. acquired a new stake in shares of Slide Insurance during the 3rd quarter valued at $9,471,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Slide Insurance during the 3rd quarter valued at $871,000.

Analysts Set New Price Targets

Several brokerages have weighed in on SLDE. Barclays lifted their target price on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Piper Sandler raised their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Trending Headlines about Slide Insurance

Here are the key news stories impacting Slide Insurance this week:

• Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and support premium growth. Article Title
• Neutral Sentiment: The company also continues to draw attention after a strong quarterly earnings beat and a recently authorized $100 million share repurchase program, both of which can help underpin investor confidence.
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average target price of $24.80.
• Negative Sentiment: Multiple insiders sold shares over May 15-19, including CEO Bruce Lucas, COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson, which may be weighing on sentiment because investors often read clustered insider sales as a sign of limited near-term upside. Article Title Article Title Article Title Article Title

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”). 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.