Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 11,250 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 11,250 shares of Slide Insurance stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $18.56, for a total value of $208,800.00. Following the transaction, the insider owned 11,250 shares of the company’s stock, valued at $208,800. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Matthew Paul Larson also recently made the following trade(s):

• On Monday, May 18th, Matthew Paul Larson sold 16,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total value of $308,912.50.
• On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.67, for a total value of $210,037.50.
• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The shares were sold at an average price of $20.02, for a total transaction of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total transaction of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.39, for a total transaction of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total transaction of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $18.69 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The company has a fifty day moving average of $18.31 and a two-hundred day moving average of $17.78. The stock has a market capitalization of $2.14 billion and a PE ratio of 5.19. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. The company had revenue of $389.28 million during the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. As a group, research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance declared that its board has authorized a share buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Slide Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank increased its position 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 purchasing an additional 1,281 shares during the last quarter. CWM LLC acquired a new stake in Slide Insurance during the fourth quarter worth about $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance during the third quarter worth about $35,000. State of Wyoming acquired a new stake in Slide Insurance during the first quarter worth about $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance during the fourth quarter worth about $47,000.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Barclays increased their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Piper Sandler increased their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Keefe, Bruyette & Woods increased their target price 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.