Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 22,548 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 22,548 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $18.95, for a total value of $427,284.60. Following the transaction, the chief operating officer owned 1,142,473 shares in the company, valued at approximately $21,649,863.35. This represents a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 20th, Shannon Lucas sold 18,279 shares of Slide Insurance stock. The stock was sold at an average price of $18.78, for a total value of $343,279.62.
• On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total value 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 value 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 value 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 value 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 value 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 value 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 value of $158,606.50.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The stock was sold at an average price of $19.24, for a total value of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $288,853.94.

Slide Insurance Trading Down 1.1%

NASDAQ:SLDE opened at $17.83 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The business’s 50-day simple moving average is $18.33 and its 200 day simple moving average is $17.81. The stock has a market cap of $2.04 billion and a price-to-earnings ratio of 4.95.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 EPS 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 business had revenue of $389.28 million for the quarter. As a group, sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several research firms recently commented on SLDE. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods boosted their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One 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’s stock. According to data from MarketBeat.com, Slide Insurance currently has an average rating of “Moderate Buy” and an average target price of $24.80.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in shares of Slide Insurance by 1,151.3% during the first quarter. Janus Henderson Group PLC now owns 172,683 shares of the company’s stock valued at $3,108,000 after purchasing an additional 158,883 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after purchasing an additional 2,189 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Slide Insurance by 221.0% during the first quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock valued at $109,000 after purchasing an additional 4,126 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Slide Insurance during the first quarter valued at approximately $655,000. Finally, Quantinno Capital Management LP bought a new position in shares of Slide Insurance during the first quarter valued at approximately $953,000.

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.