Slide Insurance (NASDAQ:SLDE) Director Sells 23,500 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 23,500 shares of Slide Insurance stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $19.01, for a total value of $446,735.00. Following the transaction, the director directly owned 179,645 shares of the company’s stock, valued at $3,415,051.45. The trade was a 11.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Beth Witte Bruce also recently made the following trade(s):

• On Tuesday, May 26th, Beth Witte Bruce sold 21,063 shares of Slide Insurance stock. The shares were sold at an average price of $18.70, for a total value of $393,878.10.
• On Friday, May 22nd, Beth Witte Bruce sold 2,437 shares of Slide Insurance stock. The shares were sold at an average price of $18.70, for a total value of $45,571.90.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total value of $473,500.00.

Slide Insurance Price Performance

SLDE stock traded up $0.08 during mid-day trading on Wednesday, reaching $18.69. 1,880,105 shares of the company traded hands, compared to its average volume of 1,576,356. 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 company has a market capitalization of $2.14 billion and a P/E ratio of 5.19. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The company has a fifty day moving average price of $18.31 and a 200-day moving average price of $17.78.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. The business had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. As a group, analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance declared that its board has authorized a share buyback plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods boosted their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Piper Sandler boosted their price objective on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Finally, Texas Capital raised Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Institutional Trading of Slide Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of SLDE. 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 worth $26,000 after buying an additional 1,281 shares in the last quarter. CWM LLC bought a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance in the third quarter valued at approximately $35,000. State of Wyoming bought a new position in shares of Slide Insurance during the first quarter valued at approximately $42,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Slide Insurance during the fourth quarter valued at approximately $47,000.

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.