Slide Insurance Holdings, Inc. $SLDE Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC raised its holdings in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 40.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,885 shares of the company’s stock after acquiring an additional 24,740 shares during the quarter. Emerald Advisers LLC owned 0.08% of Slide Insurance worth $1,546,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Comerica Bank boosted its holdings in 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 buying an additional 1,281 shares in the last quarter. CWM LLC purchased a new stake in Slide Insurance during the fourth quarter worth $35,000. Ameritas Investment Partners Inc. purchased a new stake in Slide Insurance during the third quarter worth $35,000. Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance in the fourth quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after buying an additional 2,468 shares in the last quarter.

Analyst Upgrades and Downgrades

SLDE has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays dropped their price objective on Slide Insurance from $31.00 to $27.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Finally, Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $23.75.

Insider Buying and Selling at Slide Insurance

In related news, Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $19.51, for a total value of $292,650.00. Following the transaction, the director directly owned 18,998 shares of the company’s stock, valued at approximately $370,650.98. This trade represents a 44.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bruce Lucas sold 44,467 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $17.12, for a total value of $761,275.04. Following the sale, the chief executive officer directly owned 34,506,199 shares of the company’s stock, valued at approximately $590,746,126.88. This trade represents a 0.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,382,850 shares of company stock worth $63,811,068. 50.80% of the stock is currently owned by company insiders.

Slide Insurance Price Performance

SLDE stock opened at $20.88 on Wednesday. The stock has a market capitalization of $2.39 billion and a price-to-earnings ratio of 5.80. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $21.79. The stock’s fifty day simple moving average is $18.48 and its 200-day simple moving average is $18.07.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.82 by $0.20. The firm had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Equities research analysts expect that Slide Insurance Holdings, Inc. will post 3.59 EPS for the current year.

Slide Insurance announced that its board has initiated a share buyback program on Tuesday, April 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Slide Insurance 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.