Slide Insurance (NASDAQ:SLDE) CEO Sells $3,344,114.28 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 172,644 shares of Slide Insurance stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $19.37, for a total transaction of $3,344,114.28. Following the transaction, the chief executive officer directly owned 39,702,356 shares of the company’s stock, valued at approximately $769,034,635.72. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total transaction of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87.

Slide Insurance Trading Down 2.7%

Shares of NASDAQ SLDE opened at $17.22 on Thursday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $2.14 billion and a price-to-earnings ratio of 6.67. The business’s 50 day moving average price is $17.47 and its 200-day moving average price is $16.48.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Slide Insurance

A number of hedge funds have recently made changes to their positions in SLDE. Capital World Investors grew its stake in Slide Insurance by 49.4% in the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after purchasing an additional 1,483,180 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Slide Insurance by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after buying an additional 354,321 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Slide Insurance in the 2nd quarter worth approximately $56,229,000. Balyasny Asset Management L.P. raised its stake in shares of Slide Insurance by 27.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after acquiring an additional 380,161 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Slide Insurance in the second quarter valued at approximately $33,063,000.

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.