Insider Selling: Slide Insurance (NASDAQ:SLDE) Insider Sells $202,500.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 11,250 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $18.00, for a total value of $202,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total value of $213,862.50.

Slide Insurance Trading Down 2.6%

NASDAQ SLDE opened at $17.56 on Friday. The firm has a market cap of $2.18 billion and a PE ratio of 6.81. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The stock has a 50-day moving average of $17.40 and a 200-day moving average of $16.79. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03.

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

Hedge Funds Weigh In On Slide Insurance

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new stake in Slide Insurance in the second quarter worth $2,245,000. Legal & General Group Plc purchased a new position in Slide Insurance during the 2nd quarter valued at $216,000. American Century Companies Inc. purchased a new position in Slide Insurance during the 2nd quarter valued at $56,229,000. Boston Partners bought a new position in Slide Insurance in the 2nd quarter worth $10,701,000. Finally, Russell Investments Group Ltd. bought a new position in Slide Insurance in the 2nd quarter worth $4,245,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods increased their price target 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Barclays boosted their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Finally, Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Slide Insurance has an average rating of “Buy” and an average target price of $24.40.

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.