Shannon Lucas Sells 18,279 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 18,279 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $18.78, for a total transaction of $343,279.62. Following the sale, the chief operating officer directly owned 1,165,021 shares of the company’s stock, valued at $21,879,094.38. The trade was a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $18.77, for a total transaction of $158,606.50.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total transaction of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total transaction of $288,853.94.
• On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $253,125.00.

Slide Insurance Trading Up 0.1%

Shares of Slide Insurance stock opened at $18.63 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The firm has a market capitalization of $2.13 billion and a price-to-earnings ratio of 5.18. The firm’s 50 day simple moving average is $18.25 and its two-hundred day simple moving average is $17.73.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The business had revenue of $389.28 million for the quarter. Analysts predict that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

Slide Insurance declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Comerica Bank raised its holdings in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 1,281 shares during the last quarter. CWM LLC purchased a new position in shares of Slide Insurance during the fourth quarter worth $35,000. Ameritas Investment Partners Inc. purchased a new position in shares of Slide Insurance during the third quarter worth $35,000. State of Wyoming purchased a new position in shares of Slide Insurance during the first quarter worth $42,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Slide Insurance during the fourth quarter worth $47,000.

Analysts Set New Price Targets

SLDE has been the topic of a number of recent analyst reports. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Barclays upped their price target on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.80.

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.