Andrew Pardo Wright Sells 31,002 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 31,002 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $18.01, for a total value of $558,346.02. Following the sale, the director owned 48,998 shares of the company’s stock, valued at $882,453.98. The trade was a 38.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Andrew Pardo Wright also recently made the following trade(s):

• On Friday, June 26th, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.03, for a total value of $285,450.00.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total value of $191,634.00.
• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The shares were sold at an average price of $18.90, for a total transaction of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $281,250.00.

Slide Insurance Stock Up 5.7%

SLDE stock opened at $19.09 on Friday. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $22.15. The firm has a market cap of $2.19 billion and a PE ratio of 5.30. The firm’s 50 day moving average price is $18.03 and its 200-day moving average price is $17.88. 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 (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 during the quarter. On average, equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

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

Institutional Trading of Slide Insurance

Several hedge funds have recently made changes to their positions in the business. Comerica Bank grew its holdings in shares of 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 purchasing an additional 1,281 shares in the last quarter. CWM LLC acquired a new stake in Slide Insurance during the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. purchased a new position in Slide Insurance in the 3rd quarter valued at approximately $35,000. State of Wyoming acquired a new position in shares of Slide Insurance in the first quarter worth $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Slide Insurance in the fourth quarter worth $47,000.

Wall Street Analyst Weigh In

SLDE has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Keefe, Bruyette & Woods lifted their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Barclays upped their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.80.

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.