Slide Insurance (NASDAQ:SLDE) CEO Sells $3,281,595.85 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 192,695 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $17.03, for a total value of $3,281,595.85. Following the sale, the chief executive officer owned 34,550,666 shares of the company’s stock, valued at $588,397,841.98. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, June 11th, Bruce Lucas sold 44,467 shares of Slide Insurance stock. The stock was sold at an average price of $17.12, for a total value of $761,275.04.
• On Wednesday, May 27th, Bruce Lucas sold 227,987 shares of Slide Insurance stock. The stock was sold at an average price of $18.95, for a total value of $4,320,353.65.
• On Wednesday, May 20th, Bruce Lucas sold 184,817 shares of Slide Insurance stock. The stock was sold at an average price of $18.78, for a total value of $3,470,863.26.
• On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total value of $5,178,810.00.
• On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total value of $8,672,300.00.
• On Friday, May 15th, Bruce Lucas sold 269,881 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total value of $5,084,558.04.
• On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.76, for a total value of $1,707,160.00.
• On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total value of $3,260,092.77.
• On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $1,268,830.40.
• On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $1,603,633.72.

Slide Insurance Stock Down 1.4%

NASDAQ SLDE traded down $0.24 on Friday, reaching $16.70. The company had a trading volume of 582,241 shares, compared to its average volume of 1,569,967. The firm has a market capitalization of $1.91 billion and a PE ratio of 4.64. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The firm has a 50-day moving average of $18.19 and a 200-day moving average of $17.83. 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 (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. The firm had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. On average, equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance declared that its board has authorized a share buyback program 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 programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SLDE. Capital World Investors grew its position in shares of Slide Insurance by 49.4% in the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after acquiring an additional 1,483,180 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Slide Insurance by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after acquiring an additional 354,321 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Slide Insurance by 298.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after purchasing an additional 2,012,428 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Slide Insurance by 27.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after purchasing an additional 380,161 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Slide Insurance in the second quarter worth $33,063,000.

Analysts Set New Price Targets

A number of research firms have weighed in on SLDE. Keefe, Bruyette & Woods upped their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Barclays upped their price target on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler upped their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Slide Insurance currently has an average rating of “Moderate Buy” and an average price target of $24.80.

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.