Slide Insurance (NASDAQ:SLDE) Director Sells $100,000.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of Slide Insurance stock in a transaction on Friday, July 31st. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the sale, the director directly owned 2,500 shares in the company, valued at $50,000. This trade represents a 66.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Slide Insurance Stock Performance

SLDE stock remained flat at $20.65 during trading on Tuesday. 844,898 shares of the company’s stock were exchanged, compared to its average volume of 1,520,400. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $23.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $2.41 billion, a P/E ratio of 5.04 and a beta of -0.04. The company has a fifty day moving average of $19.01 and a two-hundred day moving average of $18.24.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. The company had revenue of $386.82 million during the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 52.25%. Sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.74 EPS for the current year.

Slide Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%.

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

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in shares of 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 during the period. World Investment Advisors acquired a new stake in Slide Insurance in the 4th quarter valued at approximately $1,964,000. Axis Wealth Partners LLC raised its stake in Slide Insurance by 100.0% during the 1st quarter. Axis Wealth Partners LLC now owns 203,502 shares of the company’s stock valued at $3,663,000 after acquiring an additional 101,751 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in Slide Insurance during the 4th quarter valued at $5,893,000. Finally, Blackhawk Capital Partners LLC acquired a new position in Slide Insurance during the 4th quarter worth $1,820,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citizens Jmp lifted their price objective on Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Barclays raised their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Slide Insurance presently has an average rating of “Moderate Buy” and a consensus target price of $25.40.

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.