Susquehanna Fundamental Investments LLC Takes Position in Slide Insurance Holdings, Inc. $SLDE

Susquehanna Fundamental Investments LLC purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,175 shares of the company’s stock, valued at approximately $836,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank grew its stake in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares in the last quarter. CWM LLC purchased a new position in Slide Insurance in the fourth quarter valued at about $35,000. Ameritas Investment Partners Inc. purchased a new position in Slide Insurance in the third quarter valued at about $35,000. Global Retirement Partners LLC acquired a new stake in Slide Insurance during the 2nd quarter valued at approximately $39,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Slide Insurance in the 2nd quarter valued at approximately $40,000.

Wall Street Analyst Weigh In

SLDE has been the subject of a number of recent analyst reports. Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a research report on Monday, August 3rd. Citizens Jmp raised their price objective on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Barclays upped their target price on shares of Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen cut shares of Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $25.40.

Slide Insurance Stock Up 3.8%

Shares of NASDAQ:SLDE opened at $24.18 on Thursday. The company’s fifty day moving average is $21.23 and its two-hundred day moving average is $19.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.23. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $24.22. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 5.90 and a beta of 0.07.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.88 by $0.18. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The business had revenue of $386.82 million during the quarter. Equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 14th. Slide Insurance’s payout ratio is presently 6.83%.

Insider Activity at Slide Insurance

In related news, Director Andrew Pardo Wright sold 31,002 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $18.01, for a total transaction of $558,346.02. Following the completion of the transaction, the director owned 48,998 shares in the company, valued at $882,453.98. The trade was a 38.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Shannon Lucas sold 19,058 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.03, for a total value of $324,557.74. Following the transaction, the chief operating officer owned 1,123,415 shares of the company’s stock, valued at approximately $19,131,757.45. The trade was a 1.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 491,691 shares of company stock valued at $9,021,426. 50.80% of the stock is owned by insiders.

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.