Insider Selling: Slide Insurance (NASDAQ:SLDE) COO Sells $322,422.21 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 17,141 shares of Slide Insurance stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.81, for a total transaction of $322,422.21. Following the completion of the transaction, the chief operating officer owned 1,290,992 shares in the company, valued at approximately $24,283,559.52. This trade represents a 1.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $168,840.00.
• 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 transaction 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 transaction of $158,606.50.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The stock was sold at an average price of $19.24, for a total transaction of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total transaction of $288,853.94.
• On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $253,125.00.
• On Monday, April 20th, Shannon Lucas sold 11,676 shares of Slide Insurance stock. The stock was sold at an average price of $19.55, for a total transaction of $228,265.80.
• On Tuesday, April 14th, Shannon Lucas sold 18,874 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $340,486.96.
• On Monday, April 13th, Shannon Lucas sold 25,621 shares of Slide Insurance stock. The stock was sold at an average price of $18.05, for a total transaction of $462,459.05.
• On Thursday, April 9th, Shannon Lucas sold 27,069 shares of Slide Insurance stock. The stock was sold at an average price of $18.11, for a total transaction of $490,219.59.

Slide Insurance Stock Performance

Slide Insurance stock opened at $18.20 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 market capitalization of $2.08 billion and a price-to-earnings ratio of 5.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The firm’s fifty day moving average price is $18.22 and its 200 day moving average price is $17.59.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The firm had revenue of $389.28 million for the quarter. On average, research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance declared that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank boosted 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 valued at $26,000 after buying an additional 1,281 shares during the period. CWM LLC acquired a new position in shares of Slide Insurance in the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. acquired a new position in shares of Slide Insurance in the 3rd quarter valued at about $35,000. State of Wyoming acquired a new position in shares of Slide Insurance in the 1st quarter valued at about $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Slide Insurance in the 4th quarter valued at about $47,000.

Analyst Ratings Changes

SLDE has been the subject of several recent analyst reports. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays raised their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Piper Sandler raised their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.