Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 11,700 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 11,700 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $18.23, for a total value of $213,291.00. Following the sale, the chief operating officer directly owned 1,597,341 shares in the company, valued at $29,119,526.43. This trade represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $444,003.56.
• On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $330,742.75.

Slide Insurance Price Performance

SLDE traded down $0.78 during trading on Monday, reaching $17.70. 2,983,290 shares of the stock were exchanged, compared to its average volume of 1,682,143. The business’s 50 day moving average price is $17.55 and its two-hundred day moving average price is $16.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.20 billion and a price-to-earnings ratio of 6.86. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Analyst Ratings Changes

Several equities analysts have weighed in on SLDE shares. Piper Sandler raised their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Keefe, Bruyette & Woods increased their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Finally, Morgan Stanley lifted their price objective on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.40.

Institutional Trading of Slide Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the last quarter. CWM LLC purchased a new position in Slide Insurance in the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Slide Insurance during the 3rd quarter worth about $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Slide Insurance during the 4th quarter worth about $47,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after buying an additional 2,468 shares in the last quarter.

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.