Slide Insurance (NASDAQ:SLDE) COO Sells $330,742.75 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 17,075 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $19.37, for a total value of $330,742.75. Following the completion of the transaction, the chief operating officer directly owned 1,632,925 shares in the company, valued at $31,629,757.25. The trade was a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $213,291.00.
• 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 value of $444,003.56.

Slide Insurance Stock Performance

SLDE opened at $17.22 on Thursday. 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 business has a fifty day simple moving average of $17.47 and a 200 day simple moving average of $16.48. 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 $2.14 billion and a PE ratio of 6.67.

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, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

Analysts Set New Price Targets

Several analysts have weighed in on SLDE shares. Barclays lifted their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Piper Sandler increased their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Morgan Stanley lifted their price target on shares of Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Finally, Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.40.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Comerica Bank raised 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 purchasing an additional 1,281 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Slide Insurance by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after buying an additional 1,704 shares in the last quarter. CWM LLC bought a new position in Slide Insurance in the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. bought a new position in Slide Insurance in the 3rd quarter valued at about $35,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Slide Insurance in the 4th quarter valued at approximately $47,000.

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.