Insider Selling: Slide Insurance (NASDAQ:SLDE) COO Sells $213,291.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 11,700 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $18.23, for a total transaction of $213,291.00. Following the transaction, the chief operating officer directly owned 1,597,341 shares in the company, valued at approximately $29,119,526.43. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $444,003.56.
• On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total transaction of $330,742.75.

Slide Insurance Stock Performance

Slide Insurance stock opened at $17.22 on Thursday. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.14 billion and a price-to-earnings ratio of 6.67. The firm’s fifty day moving average price is $17.47 and its 200 day moving average price is $16.48.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SLDE. Keefe, Bruyette & Woods increased their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday. Morgan Stanley lifted their price objective on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Piper Sandler upped 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Finally, Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.40.

Institutional Trading of Slide Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in SLDE. Comerica Bank lifted its holdings 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 worth $26,000 after purchasing an additional 1,281 shares during the last quarter. CWM LLC bought a new position in Slide Insurance during the 4th quarter worth $35,000. Ameritas Investment Partners Inc. bought a new position in Slide Insurance during the 3rd quarter worth $35,000. Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance in the fourth quarter worth $47,000. Finally, Caitong International Asset Management Co. Ltd increased its position 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 worth $49,000 after buying an additional 2,468 shares during the period.

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.