Slide Insurance (NASDAQ:SLDE) Director Robert Gries, Jr. Sells 28,212 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 28,212 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $18.35, for a total transaction of $517,690.20. Following the completion of the transaction, the director directly owned 2,003,053 shares of the company’s stock, valued at approximately $36,756,022.55. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Slide Insurance Stock Down 2.7%

Shares of NASDAQ SLDE traded down $0.49 during midday trading on Wednesday, reaching $17.75. 2,532,975 shares of the company’s stock were exchanged, compared to its average volume of 2,236,213. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The business’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $16.63. The stock has a market capitalization of $2.21 billion and a PE ratio of 6.88.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The business had revenue of $347.01 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDE. World Investment Advisors bought a new position in Slide Insurance during the 4th quarter worth $1,964,000. Caitong International Asset Management Co. Ltd lifted its stake in Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after buying an additional 2,468 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Slide Insurance by 35.1% during the fourth quarter. Invesco Ltd. now owns 20,066 shares of the company’s stock valued at $391,000 after acquiring an additional 5,212 shares during the period. Vident Advisory LLC acquired a new position in shares of Slide Insurance during the fourth quarter valued at $859,000. Finally, State of Tennessee Department of Treasury grew its position in shares of Slide Insurance by 29.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 13,479 shares of the company’s stock worth $263,000 after acquiring an additional 3,079 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SLDE. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Piper Sandler increased their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Barclays boosted their price target on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.40.

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.