Insider Selling: Slide Insurance (NASDAQ:SLDE) CEO Sells $47,556.60 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 2,730 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $17.42, for a total value of $47,556.60. Following the completion of the sale, the chief executive officer owned 39,221,533 shares in the company, valued at $683,239,104.86. This trade represents a 0.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total transaction of $3,344,114.28.

Slide Insurance Stock Up 2.2%

SLDE opened at $17.65 on Friday. The firm has a market cap of $2.19 billion and a price-to-earnings ratio of 6.84. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. The firm’s 50-day simple moving average is $17.41 and its 200-day simple moving average is $16.54. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

Wall Street Analysts Forecast Growth

SLDE has been the topic of a number of research analyst reports. Barclays increased their price target on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Keefe, Bruyette & Woods lifted their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Piper Sandler increased their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.40.

Institutional Trading of Slide Insurance

Several hedge funds have recently modified their holdings of the stock. Great Lakes Advisors LLC bought a new position in Slide Insurance in the 3rd quarter worth approximately $3,113,000. American Century Companies Inc. bought a new position in Slide Insurance in the 2nd quarter valued at $56,229,000. HB Wealth Management LLC acquired a new stake in shares of Slide Insurance in the 3rd quarter valued at $955,000. Federated Hermes Inc. acquired a new stake in shares of Slide Insurance in the 3rd quarter valued at $9,471,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Slide Insurance during the second quarter worth $4,245,000.

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.