Andrew Pardo Wright Sells 10,086 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 10,086 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.00, for a total transaction of $191,634.00. Following the transaction, the director directly owned 80,000 shares of the company’s stock, valued at $1,520,000. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Andrew Pardo Wright also recently made the following trade(s):

• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total transaction of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $281,250.00.

Slide Insurance Price Performance

Shares of SLDE opened at $18.68 on Thursday. The stock has a market capitalization of $2.14 billion and a P/E ratio of 5.19. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The company has a 50 day moving average of $18.21 and a 200-day moving average of $17.70. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last released its 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. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The business had revenue of $389.28 million during the quarter. As a group, equities research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

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

Slide Insurance News Roundup

Here are the key news stories impacting Slide Insurance this week:

• Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and support premium growth. Article Title
• Neutral Sentiment: The company also continues to draw attention after a strong quarterly earnings beat and a recently authorized $100 million share repurchase program, both of which can help underpin investor confidence.
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average target price of $24.80.
• Negative Sentiment: Multiple insiders sold shares over May 15-19, including CEO Bruce Lucas, COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson, which may be weighing on sentiment because investors often read clustered insider sales as a sign of limited near-term upside. Article Title Article Title Article Title Article Title

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 1,281 shares during the period. Hsbc Holdings PLC boosted its position in Slide Insurance by 8.4% during the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after purchasing an additional 1,641 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Slide Insurance by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after purchasing an additional 1,704 shares during the period. CWM LLC bought a new position in Slide Insurance during the fourth quarter worth $35,000. Finally, California State Teachers Retirement System boosted its position in Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock worth $456,000 after purchasing an additional 2,189 shares during the period.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLDE. Barclays raised their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Piper Sandler upped their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. One investment 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. According to MarketBeat.com, Slide Insurance presently has an average rating of “Moderate Buy” and an average target price of $24.80.

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.