Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 11,250 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 11,250 shares of Slide Insurance stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $18.67, for a total transaction of $210,037.50. Following the transaction, the insider directly owned 11,250 shares of the company’s stock, valued at approximately $210,037.50. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Matthew Paul Larson also recently made the following trade(s):

• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The shares were sold at an average price of $20.02, for a total transaction of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total transaction of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.39, for a total transaction of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total transaction of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total transaction of $213,862.50.

Slide Insurance Price Performance

NASDAQ:SLDE opened at $18.20 on Thursday. 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 has a market cap of $2.08 billion and a price-to-earnings ratio of 5.06. The company has a 50 day moving average price of $18.22 and a 200-day moving average price of $17.59. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90.

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

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

Institutional Investors Weigh In On Slide Insurance

A number of large investors have recently modified their holdings of the business. Comerica Bank grew its holdings in shares of Slide Insurance by 3,462.2% during 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. Hsbc Holdings PLC grew its holdings in shares of Slide Insurance by 8.4% during the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after buying an additional 1,641 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 purchased a new stake in shares of Slide Insurance during the fourth quarter worth $35,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Slide Insurance during the third quarter worth $35,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price target 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. Piper Sandler boosted their price target 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. Keefe, Bruyette & Woods boosted their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Finally, Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.80.

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.