Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells $45,571.90 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 2,437 shares of Slide Insurance stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $18.70, for a total transaction of $45,571.90. Following the completion of the transaction, the director directly owned 224,208 shares in the company, valued at approximately $4,192,689.60. This represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Beth Witte Bruce also recently made the following trade(s):

• On Wednesday, May 27th, Beth Witte Bruce sold 23,500 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total transaction of $446,735.00.
• On Tuesday, May 26th, Beth Witte Bruce sold 21,063 shares of Slide Insurance stock. The stock was sold at an average price of $18.70, for a total transaction of $393,878.10.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total transaction of $473,500.00.

Slide Insurance Trading Down 1.4%

Shares of SLDE stock opened at $18.03 on Friday. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The firm’s fifty day simple moving average is $18.32 and its 200 day simple moving average is $17.80. The firm has a market capitalization of $2.07 billion and a P/E ratio of 5.01. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter. As a group, sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

Slide Insurance declared that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Slide Insurance

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its holdings in shares of Slide Insurance by 1,151.3% in the 1st quarter. Janus Henderson Group PLC now owns 172,683 shares of the company’s stock worth $3,108,000 after purchasing an additional 158,883 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Slide Insurance by 9.5% in the 1st 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 last quarter. Royal Bank of Canada grew its holdings in shares of Slide Insurance by 221.0% in the 1st quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock worth $109,000 after purchasing an additional 4,126 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Slide Insurance in the 1st quarter worth about $655,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Slide Insurance in the 1st quarter worth about $953,000.

Wall Street Analyst Weigh In

SLDE has been the topic of a number of research reports. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays boosted their price target on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.