Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 2,500 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 2,500 shares of Slide Insurance stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $17.79, for a total value of $44,475.00. Following the transaction, the insider owned 2,500 shares in the company, valued at $44,475. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, May 26th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.56, for a total value of $208,800.00.
• 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 value 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 value 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 value 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 value 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 value 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 value 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 value of $202,500.00.

Slide Insurance Trading Down 2.5%

NASDAQ:SLDE opened at $17.38 on Wednesday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $1.99 billion and a PE ratio of 4.83. The business’s 50-day simple moving average is $18.33 and its 200-day simple moving average is $17.81.

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 for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Sell-side analysts expect that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance announced that its board has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on SLDE shares. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Barclays boosted their target price on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One investment 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. According to data from MarketBeat.com, Slide Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Comerica Bank increased its holdings in shares of Slide Insurance by 3,462.2% during the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after acquiring an additional 1,281 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Slide Insurance by 8.4% during the 1st quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after acquiring an additional 1,641 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Slide Insurance by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after acquiring an additional 1,704 shares during the last quarter. CWM LLC acquired a new position in shares of Slide Insurance during the 4th quarter worth approximately $35,000. Finally, California State Teachers Retirement System increased its holdings in shares of Slide Insurance by 9.5% during the 1st quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock worth $456,000 after acquiring an additional 2,189 shares during the last quarter.

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.