Slide Insurance (NASDAQ:SLDE) CEO Sells $4,320,353.65 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 227,987 shares of Slide Insurance stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $18.95, for a total value of $4,320,353.65. Following the completion of the sale, the chief executive officer directly owned 34,743,361 shares in the company, valued at $658,386,690.95. This trade represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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.
• On Wednesday, April 29th, Bruce Lucas sold 191,276 shares of Slide Insurance stock. The stock was sold at an average price of $19.24, for a total value of $3,680,150.24.
• On Tuesday, April 28th, Bruce Lucas sold 154,207 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $2,920,680.58.

Slide Insurance Trading Down 6.8%

Shares of NASDAQ SLDE opened at $16.19 on Thursday. The business’s 50 day moving average is $18.33 and its two-hundred day moving average is $17.81. 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 Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The stock has a market capitalization of $1.85 billion and a P/E ratio of 4.50.

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

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

Analyst Ratings Changes

SLDE has been the topic of several research analyst reports. 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 report on Monday, March 9th. Piper Sandler boosted their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Finally, Barclays lifted their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Slide Insurance has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Institutional Investors Weigh In On Slide Insurance

Several hedge funds have recently made changes to their positions in SLDE. Great Lakes Advisors LLC purchased a new position in Slide Insurance during the 3rd quarter valued at about $3,113,000. Fifth Third Bancorp boosted its stake 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 valued at $7,433,000 after purchasing an additional 381,475 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new position in Slide Insurance during the fourth quarter valued at approximately $2,235,000. Federated Hermes Inc. purchased a new position in Slide Insurance during the third quarter valued at approximately $9,471,000. Finally, Quantbot Technologies LP bought a new position in Slide Insurance in the third quarter worth approximately $871,000.

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.