Slide Insurance (NASDAQ:SLDE) CEO Sells $4,489,354.87 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 241,493 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87. Following the completion of the sale, the chief executive officer owned 39,460,863 shares of the company’s stock, valued at approximately $733,577,443.17. This trade represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total transaction of $3,344,114.28.

Slide Insurance Price Performance

Shares of SLDE stock traded down $0.78 on Monday, hitting $17.70. 2,983,290 shares of the company’s stock were exchanged, compared to its average volume of 1,682,143. The stock has a market cap of $2.20 billion and a P/E ratio of 6.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90. The company has a 50 day moving average of $17.55 and a 200 day moving average of $16.45.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays increased their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Keefe, Bruyette & Woods lifted their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler upped their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Finally, Morgan Stanley raised their target price on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its stake in Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after acquiring an additional 2,468 shares in the last quarter. Invesco Ltd. boosted its stake in Slide Insurance by 35.1% during the 4th quarter. Invesco Ltd. now owns 20,066 shares of the company’s stock valued at $391,000 after purchasing an additional 5,212 shares during the last quarter. Vident Advisory LLC bought a new position in Slide Insurance during the 4th quarter valued at about $859,000. State of Tennessee Department of Treasury boosted its holdings in shares of Slide Insurance by 29.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 13,479 shares of the company’s stock valued at $263,000 after acquiring an additional 3,079 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new stake in Slide Insurance in the 4th quarter worth approximately $1,277,000.

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.