Insider Selling: Slide Insurance (NASDAQ:SLDE) Insider Sells 11,250 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 11,250 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $19.01, for a total value of $213,862.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Slide Insurance Stock Up 0.3%

Slide Insurance stock traded up $0.06 during midday trading on Thursday, reaching $19.47. 1,754,134 shares of the company were exchanged, compared to its average volume of 1,548,110. The firm’s 50-day simple moving average is $17.61 and its 200-day simple moving average is $16.38. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data 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 business had revenue of $347.01 million for the quarter.

Analyst Ratings Changes

Several analysts recently commented on SLDE shares. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Barclays lifted their price objective on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Piper Sandler raised their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Slide Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.20.

Institutional Investors Weigh In On Slide Insurance

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after purchasing an additional 2,468 shares in the last quarter. Invesco Ltd. increased its holdings in Slide Insurance by 35.1% in the 4th quarter. Invesco Ltd. now owns 20,066 shares of the company’s stock valued at $391,000 after acquiring an additional 5,212 shares during the last quarter. Vident Advisory LLC bought a new stake in Slide Insurance in the fourth quarter worth $859,000. State of Tennessee Department of Treasury boosted its holdings in shares of Slide Insurance by 29.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 13,479 shares of the company’s stock worth $263,000 after purchasing an additional 3,079 shares during the period. Finally, NewEdge Advisors LLC bought a new stake in Slide Insurance in the fourth quarter worth about $1,277,000.

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.