Slide Insurance (NASDAQ:SLDE) Director Sells $191,634.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.00, for a total transaction of $191,634.00. Following the sale, the director directly owned 80,000 shares of the company’s stock, valued at $1,520,000. This represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Andrew Pardo Wright also recently made the following trade(s):

• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total value of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $281,250.00.

Slide Insurance Stock Down 2.6%

Shares of Slide Insurance stock traded down $0.50 during trading on Tuesday, hitting $18.48. 1,257,810 shares of the stock traded hands, compared to its average volume of 1,627,024. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $18.19 and its 200 day simple moving average is $17.68. The firm has a market cap of $2.12 billion and a P/E ratio of 5.13. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90.

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 the consensus estimate of $0.82 by $0.20. The company had revenue of $389.28 million for the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. On average, equities analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance announced that its Board of Directors has authorized a stock repurchase program on Tuesday, April 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Slide Insurance

Large investors have recently added to or reduced their stakes in the company. Comerica Bank increased its holdings in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the period. CWM LLC acquired a new stake in shares of Slide Insurance during the fourth quarter worth about $35,000. Ameritas Investment Partners Inc. purchased a new stake in Slide Insurance in the third quarter valued at approximately $35,000. State of Wyoming acquired a new position in Slide Insurance in the 1st quarter worth approximately $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Slide Insurance in the 4th quarter worth approximately $47,000.

More Slide Insurance News

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on SLDE shares. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays increased their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

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.