Andrew Pardo Wright Sells 6,316 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 6,316 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.90, for a total transaction of $119,372.40. Following the transaction, the director owned 100,086 shares in the company, valued at $1,891,625.40. The trade was a 5.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $281,250.00.

Slide Insurance Trading Up 0.5%

SLDE stock traded up $0.10 during trading on Monday, hitting $18.56. The company had a trading volume of 1,327,143 shares, compared to its average volume of 1,766,007. The firm has a 50-day moving average price of $18.25 and a 200-day moving average price of $17.55. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.13 billion and a price-to-earnings ratio of 5.16.

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

Slide Insurance announced that its Board of Directors has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SLDE shares. Barclays upped their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Hedge Funds Weigh In On Slide Insurance

Institutional investors have recently modified their holdings of the stock. Comerica Bank increased its stake in shares of Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares during the last quarter. CWM LLC bought a new position in Slide Insurance during the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance during the third quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd acquired a new position in Slide Insurance during the fourth quarter valued at approximately $47,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Slide Insurance by 4,839.2% in 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.

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.