Bruce Lucas Sells 178,733 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 178,733 shares of the business’s stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $18.04, for a total value of $3,224,343.32. Following the sale, the chief executive officer owned 38,657,781 shares of the company’s stock, valued at approximately $697,386,369.24. This represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total value of $1,820,323.04.
• On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.13, for a total value of $4,124,575.00.
• On Wednesday, March 11th, Bruce Lucas sold 2,730 shares of Slide Insurance stock. The shares were sold at an average price of $17.42, for a total value of $47,556.60.
• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The stock was sold at an average price of $18.59, for a total value of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $3,344,114.28.

Slide Insurance Trading Down 2.6%

Shares of Slide Insurance stock opened at $17.56 on Friday. The firm has a 50-day moving average of $17.40 and a 200-day moving average of $16.79. The stock has a market cap of $2.18 billion and a PE ratio of 6.81. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-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.

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SLDE shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Barclays boosted their price target on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods upped their target price on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $24.40.

Institutional Trading of Slide Insurance

Several large investors have recently bought and sold shares of the business. Comerica Bank grew its position in Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares during the last quarter. CWM LLC acquired a new position in Slide Insurance during the fourth quarter worth about $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance in the third quarter worth about $35,000. Aster Capital Management DIFC Ltd bought a new position in shares of Slide Insurance in the fourth quarter worth about $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Slide Insurance by 4,839.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after purchasing an additional 2,468 shares in the last quarter.

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.