Slide Insurance (NASDAQ:SLDE) Director Sells 15,000 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.03, for a total value of $285,450.00. Following the transaction, the director owned 33,998 shares of the company’s stock, valued at $646,981.94. This represents a 30.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, June 24th, Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total transaction of $558,346.02.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total transaction of $191,634.00.
• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The shares were sold at an average price of $18.90, for a total transaction of $119,372.40.
• 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 5.7%

SLDE traded up $1.03 on Friday, hitting $19.09. The company had a trading volume of 3,204,372 shares, compared to its average volume of 932,414. The business’s fifty day simple moving average is $18.03 and its 200 day simple moving average is $17.88. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $22.15. The company has a market cap of $2.19 billion and a PE ratio of 5.30.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. The business 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%. Equities research analysts expect that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

Slide Insurance announced that its board has authorized a share buyback program on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

SLDE has been the subject of several research analyst reports. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Barclays upped their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Institutional Investors Weigh In On Slide Insurance

Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Slide Insurance by 529,826.4% during the fourth quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock valued at $7,433,000 after buying an additional 381,475 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in Slide Insurance in the fourth quarter worth about $2,235,000. FourThought Financial Partners LLC bought a new position in Slide Insurance during the 4th quarter worth about $5,893,000. Quantbot Technologies LP bought a new position in Slide Insurance during the 3rd quarter worth about $871,000. Finally, First American Bank purchased a new position in Slide Insurance during the 4th quarter valued at about $7,079,000.

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.