Insider Selling: Slide Insurance (NASDAQ:SLDE) CEO Sells 241,493 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 241,493 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $18.59, for a total transaction of $4,489,354.87. Following the sale, the chief executive officer owned 39,460,863 shares in the company, valued at $733,577,443.17. The trade was a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total transaction of $2,156,609.00.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total value of $3,344,114.28.

Slide Insurance Price Performance

Shares of SLDE stock traded down $0.78 on Monday, reaching $17.70. The company’s stock had a trading volume of 2,983,290 shares, compared to its average volume of 1,682,143. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a market capitalization of $2.20 billion and a price-to-earnings ratio of 6.86. The stock’s fifty day simple moving average is $17.55 and its 200-day simple moving average is $16.45. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.

Analyst Ratings Changes

SLDE has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Keefe, Bruyette & Woods boosted 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. Finally, Morgan Stanley lifted their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.40.

Institutional Investors Weigh In On Slide Insurance

Large investors have recently modified their holdings of the business. Comerica Bank boosted its stake in Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares in the last quarter. CWM LLC purchased a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Slide Insurance in the third quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Slide Insurance during the fourth quarter worth approximately $47,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of 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 worth $49,000 after acquiring an additional 2,468 shares during 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.