Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells $292,650.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock in a transaction on Monday, June 29th. The shares were sold at an average price of $19.51, for a total transaction of $292,650.00. Following the completion of the sale, the director owned 18,998 shares of the company’s stock, valued at $370,650.98. This represents a 44.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Andrew Pardo Wright also recently made the following trade(s):

• On Friday, June 26th, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.03, for a total transaction of $285,450.00.
• On Wednesday, June 24th, Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $558,346.02.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total transaction of $191,634.00.
• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total transaction of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $281,250.00.

Slide Insurance Stock Up 3.2%

Slide Insurance stock traded up $0.62 during midday trading on Wednesday, reaching $19.99. The stock had a trading volume of 2,035,799 shares, compared to its average volume of 1,563,907. The company has a fifty day moving average price of $18.04 and a two-hundred day moving average price of $17.91. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $21.02. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.29 billion and a P/E ratio of 5.55.

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

Slide Insurance declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase 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.

Hedge Funds Weigh In On Slide Insurance

Hedge funds have recently bought and sold shares of the company. Comerica Bank grew its stake in shares of Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after acquiring an additional 1,281 shares in the last quarter. CWM LLC bought a new position in shares of Slide Insurance during the fourth quarter valued at about $35,000. Ameritas Investment Partners Inc. purchased a new position in Slide Insurance during the third quarter worth about $35,000. State of Wyoming purchased a new position in Slide Insurance during the first quarter worth about $42,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Slide Insurance in the 4th quarter worth about $47,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLDE. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Barclays raised their price target on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

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.