Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 8,450 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 8,450 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $18.77, for a total value of $158,606.50. Following the completion of the transaction, the chief operating officer owned 1,314,780 shares in the company, valued at $24,678,420.60. This represents a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total value of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total transaction of $288,853.94.
• On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $253,125.00.
• On Monday, April 20th, Shannon Lucas sold 11,676 shares of Slide Insurance stock. The shares were sold at an average price of $19.55, for a total transaction of $228,265.80.
• On Tuesday, April 14th, Shannon Lucas sold 18,874 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $340,486.96.
• On Monday, April 13th, Shannon Lucas sold 25,621 shares of Slide Insurance stock. The stock was sold at an average price of $18.05, for a total value of $462,459.05.
• On Thursday, April 9th, Shannon Lucas sold 27,069 shares of Slide Insurance stock. The shares were sold at an average price of $18.11, for a total value of $490,219.59.
• On Wednesday, April 8th, Shannon Lucas sold 12,008 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total value of $216,264.08.
• On Tuesday, April 7th, Shannon Lucas sold 11,283 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $203,094.00.

Slide Insurance Stock Performance

Shares of Slide Insurance stock traded down $0.19 during trading hours on Monday, hitting $18.43. 1,466,513 shares of the company’s stock traded hands, compared to its average volume of 1,723,868. The stock has a market capitalization of $2.11 billion and a price-to-earnings ratio of 5.12. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. The company has a fifty day simple moving average of $18.19 and a 200-day simple moving average of $17.42.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.20. The company had revenue of $389.28 million during the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 50.01%. Equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.36 EPS 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 shares. This buyback authorization permits the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Slide Insurance

A number of large investors have recently added to or reduced their stakes in the company. Comerica Bank raised its holdings in shares of Slide Insurance by 3,462.2% during the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after acquiring an additional 1,281 shares in the last quarter. CWM LLC purchased a new position in shares of Slide Insurance in the fourth quarter valued at $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance in the third quarter worth $35,000. Aster Capital Management DIFC Ltd bought a new stake in Slide Insurance in the fourth quarter worth $47,000. Finally, Caitong International Asset Management Co. Ltd raised its stake 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.

Wall Street Analyst Weigh In

Several research firms recently commented on SLDE. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Wall Street Zen lowered shares of Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Keefe, Bruyette & Woods lifted their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Piper Sandler boosted their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.