Shannon Lucas Sells 19,058 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 19,058 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $17.03, for a total transaction of $324,557.74. Following the sale, the chief operating officer owned 1,123,415 shares in the company, valued at $19,131,757.45. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, June 11th, Shannon Lucas sold 4,659 shares of Slide Insurance stock. The stock was sold at an average price of $17.12, for a total value of $79,762.08.
• On Wednesday, May 27th, Shannon Lucas sold 22,548 shares of Slide Insurance stock. The stock was sold at an average price of $18.95, for a total value of $427,284.60.
• On Wednesday, May 20th, Shannon Lucas sold 18,279 shares of Slide Insurance stock. The shares were sold at an average price of $18.78, for a total value of $343,279.62.
• On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.97, for a total value of $512,190.00.
• On Monday, May 18th, Shannon Lucas sold 45,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total value of $857,700.00.
• On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The shares were sold at an average price of $18.84, for a total value of $502,877.28.
• On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total value of $168,840.00.
• On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total value of $322,422.21.
• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The shares were sold at an average price of $18.88, for a total value of $125,495.36.
• On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $158,606.50.

Slide Insurance Trading Down 1.4%

Shares of NASDAQ SLDE traded down $0.24 during trading hours on Friday, hitting $16.70. 582,241 shares of the company traded hands, compared to its average volume of 1,569,967. The stock has a market capitalization of $1.91 billion and a price-to-earnings ratio of 4.64. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average price is $18.19 and its 200 day moving average price is $17.83. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90.

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. The firm had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. On average, equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance declared that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on SLDE. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Barclays lifted their target price on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.80.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of SLDE. Comerica Bank increased its stake in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after buying an additional 1,281 shares during the period. CWM LLC bought a new stake in shares of Slide Insurance in the fourth quarter valued at about $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance in the third quarter valued at about $35,000. State of Wyoming bought a new stake in shares of Slide Insurance in the first quarter valued at about $42,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Slide Insurance in the fourth quarter valued at about $47,000.

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.