Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 19,058 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 19,058 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $17.03, for a total transaction of $324,557.74. Following the completion of the transaction, the chief operating officer owned 1,123,415 shares in the company, valued at $19,131,757.45. This trade represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, June 11th, Shannon Lucas sold 4,659 shares of Slide Insurance stock. The shares were sold at an average price of $17.12, for a total transaction of $79,762.08.
• On Wednesday, May 27th, Shannon Lucas sold 22,548 shares of Slide Insurance stock. The shares were sold at an average price of $18.95, for a total transaction of $427,284.60.
• On Wednesday, May 20th, Shannon Lucas sold 18,279 shares of Slide Insurance stock. The stock was sold at an average price of $18.78, for a total transaction of $343,279.62.
• On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total transaction of $512,190.00.
• On Monday, May 18th, Shannon Lucas sold 45,000 shares of Slide Insurance stock. The shares were sold at an average price of $19.06, for a total transaction of $857,700.00.
• On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total value of $502,877.28.
• On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.76, for a total value of $168,840.00.
• On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total value of $322,422.21.
• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $125,495.36.
• On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $158,606.50.

Slide Insurance Stock Performance

Shares of SLDE stock traded down $0.24 during trading hours on Friday, reaching $16.70. 582,241 shares of the company traded hands, compared to its average volume of 1,569,967. The firm has a 50-day moving average price of $18.19 and a 200 day moving average price of $17.83. The company has a market cap of $1.91 billion and a P/E ratio of 4.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data 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 company 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%. As a group, sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have weighed in on SLDE shares. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays raised their price target on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Piper Sandler upped their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.80.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors have recently added to or reduced their stakes in SLDE. Fifth Third Bancorp increased its stake in Slide Insurance by 529,826.4% in the 4th quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock worth $7,433,000 after acquiring an additional 381,475 shares during the last quarter. Cyndeo Wealth Partners LLC bought a new position in shares of Slide Insurance during the 4th quarter valued at approximately $2,235,000. Quantbot Technologies LP purchased a new position in shares of Slide Insurance in the third quarter valued at $871,000. FourThought Financial Partners LLC bought a new stake in Slide Insurance in the fourth quarter worth $5,893,000. Finally, First American Bank bought a new stake in Slide Insurance in the fourth quarter worth $7,079,000.

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.