Emerald Mutual Fund Advisers Trust Has $8.28 Million Holdings in Slide Insurance Holdings, Inc. $SLDE

Emerald Mutual Fund Advisers Trust lifted its stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 24.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 459,820 shares of the company’s stock after buying an additional 91,610 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Slide Insurance were worth $8,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SLDE. Raymond James Financial Inc. acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at $33,063,000. Balyasny Asset Management L.P. increased its holdings in shares of Slide Insurance by 314.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock valued at $21,753,000 after purchasing an additional 1,045,826 shares in the last quarter. HB Wealth Management LLC boosted its stake in Slide Insurance by 1,375.7% in the fourth quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock valued at $17,388,000 after acquiring an additional 832,102 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Slide Insurance during the fourth quarter worth $13,016,000. Finally, Millennium Management LLC grew its position in shares of Slide Insurance by 377.4% during the 3rd quarter. Millennium Management LLC now owns 722,895 shares of the company’s stock worth $11,411,000 after buying an additional 571,483 shares during the period.

Slide Insurance Price Performance

SLDE stock opened at $21.38 on Tuesday. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $21.79. The stock has a market cap of $2.45 billion and a price-to-earnings ratio of 5.94. 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 company has a 50 day simple moving average of $18.44 and a 200 day simple moving average of $18.06.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. The business 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%. Research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.59 EPS for the current fiscal year.

Slide Insurance declared that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Slide Insurance

In related news, CEO Bruce Lucas sold 455,000 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $19.06, for a total value of $8,672,300.00. Following the sale, the chief executive officer owned 35,429,165 shares of the company’s stock, valued at $675,279,884.90. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 3,382,850 shares of company stock worth $63,811,068 in the last quarter. 50.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods upped their target price on shares of Slide Insurance from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays reduced their price objective on Slide Insurance from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Slide Insurance currently has a consensus rating of “Moderate Buy” and an average price target of $23.75.

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.