Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 19,058 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 19,058 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.03, for a total transaction of $324,557.74. Following the sale, the chief operating officer directly owned 1,123,415 shares of the company’s stock, valued at $19,131,757.45. This represents a 1.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, June 11th, Shannon Lucas sold 4,659 shares of Slide Insurance stock. The shares were sold at an average price of $17.12, for a total transaction of $79,762.08.
• On Wednesday, May 27th, Shannon Lucas sold 22,548 shares of Slide Insurance stock. The shares were sold at an average price of $18.95, for a total transaction of $427,284.60.
• On Wednesday, May 20th, Shannon Lucas sold 18,279 shares of Slide Insurance stock. The shares were sold at an average price of $18.78, for a total transaction of $343,279.62.
• On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.97, for a total transaction of $512,190.00.
• On Monday, May 18th, Shannon Lucas sold 45,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total transaction of $857,700.00.
• On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total transaction of $502,877.28.
• On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.76, for a total transaction of $168,840.00.
• On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total transaction of $322,422.21.
• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total transaction of $125,495.36.
• On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total transaction of $158,606.50.

Slide Insurance Stock Performance

Shares of SLDE stock opened at $16.70 on Friday. The company has a market cap of $1.91 billion and a price-to-earnings ratio of 4.64. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $18.17 and a 200-day moving average of $17.83.

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

Slide Insurance announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Slide Insurance News Roundup

Here are the key news stories impacting Slide Insurance this week:

• Negative Sentiment: CEO Bruce Lucas sold shares in two transactions this week, including a large sale of 192,695 shares and another of 44,467 shares, trimming his ownership slightly. SEC filing for Bruce Lucas sale
• Negative Sentiment: COO Shannon Lucas also sold shares in two filings, including 19,058 shares and 4,659 shares, adding to the impression of insider selling at SLDE. SEC filing for Shannon Lucas sale
• Negative Sentiment: Insider Matthew Paul Larson sold 13,750 shares, reducing his stake by more than 60%, which may raise concerns about near-term insider confidence. SEC filing for Matthew Paul Larson sale
• Neutral Sentiment: The company’s last reported quarterly results were strong, with earnings of $1.02 per share beating estimates and revenue of $389.28 million, which may help limit downside from the insider sales.

Wall Street Analysts Forecast Growth

SLDE has been the topic of a number of recent research reports. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Barclays increased their target price on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.80.

Hedge Funds Weigh In On Slide Insurance

A number of large investors have recently modified their holdings of the company. Comerica Bank lifted its holdings 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 purchasing an additional 1,281 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Slide Insurance by 8.4% in the 1st quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after purchasing an additional 1,641 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Slide Insurance by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after acquiring an additional 1,704 shares during the last quarter. CWM LLC purchased a new position in Slide Insurance during the 4th quarter worth $35,000. Finally, California State Teachers Retirement System boosted its holdings in Slide Insurance by 9.5% during the 1st quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock worth $456,000 after acquiring an additional 2,189 shares during 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.