Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 269,881 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 269,881 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $18.84, for a total value of $5,084,558.04. Following the transaction, the chief executive officer directly owned 35,884,165 shares of the company’s stock, valued at approximately $676,057,668.60. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total value of $5,178,810.00.
• On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total value of $8,672,300.00.
• On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.76, for a total value of $1,707,160.00.
• On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total value of $3,260,092.77.
• On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $1,268,830.40.
• On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $1,603,633.72.
• On Wednesday, April 29th, Bruce Lucas sold 191,276 shares of Slide Insurance stock. The stock was sold at an average price of $19.24, for a total value of $3,680,150.24.
• On Tuesday, April 28th, Bruce Lucas sold 154,207 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total value of $2,920,680.58.
• On Monday, April 27th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $2,559,375.00.
• On Monday, April 20th, Bruce Lucas sold 118,055 shares of Slide Insurance stock. The shares were sold at an average price of $19.55, for a total value of $2,307,975.25.

Slide Insurance Stock Performance

Shares of NASDAQ SLDE traded down $0.50 during trading hours on Tuesday, reaching $18.48. The stock had a trading volume of 1,257,810 shares, compared to its average volume of 1,627,024. The firm has a market cap of $2.12 billion and a price-to-earnings ratio of 5.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The firm has a 50-day moving average of $18.19 and a 200-day moving average of $17.68.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. The firm 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%. Equities research analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Barclays increased their price objective on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Piper Sandler increased their price objective on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Hedge Funds Weigh In On Slide Insurance

A number of large investors have recently modified their holdings of SLDE. Comerica Bank raised its stake 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 buying an additional 1,281 shares in the last quarter. CWM LLC purchased a new position in shares of Slide Insurance during the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. purchased a new position in shares of Slide Insurance during the 3rd quarter worth approximately $35,000. State of Wyoming purchased a new position in shares of Slide Insurance during the 1st quarter worth approximately $42,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Slide Insurance during the 4th quarter worth approximately $47,000.

Slide Insurance News Summary

Here are the key news stories impacting Slide Insurance this week:

• Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and boost premium growth. Article Title
• Neutral Sentiment: The company’s CEO Bruce Lucas sold shares in multiple transactions over May 15-19, and COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson also sold stock, adding to investor focus on insider activity. Article Title Article Title Article Title Article Title
• Negative Sentiment: The clustering of insider sales may be weighing on sentiment, since investors often view heavy selling by management as a sign that shares may be fairly valued or that near-term upside is limited. Article Title

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.