Stephen Rohde Sells 5,000 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. Following the sale, the director directly owned 2,500 shares of the company’s stock, valued at $50,000. The trade was a 66.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $20.74 on Thursday. The company has a market cap of $2.42 billion, a P/E ratio of 5.06 and a beta of -0.04. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $23.00. The company’s 50-day moving average price is $19.10 and its 200-day moving average price is $18.30. The company has a current ratio of 1.23, a quick ratio of 1.33 and a debt-to-equity ratio of 0.02.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. The company had revenue of $386.82 million during the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. On average, sell-side analysts forecast that Slide Insurance Holdings, Inc. will post 3.91 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.4%.

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on SLDE shares. Morgan Stanley set a $22.00 price target on Slide Insurance in a report on Monday. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday. Citizens Jmp lifted their target price on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Monday. Finally, Citigroup reissued an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $25.40.

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds have recently modified their holdings of the business. Fifth Third Bancorp raised its holdings in shares of Slide Insurance by 529,826.4% in the 4th 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. World Investment Advisors purchased a new position in Slide Insurance during the 4th quarter valued at about $1,964,000. Axis Wealth Partners LLC grew its position in Slide Insurance by 100.0% in the 1st quarter. Axis Wealth Partners LLC now owns 203,502 shares of the company’s stock valued at $3,663,000 after acquiring an additional 101,751 shares in the last quarter. FourThought Financial Partners LLC acquired a new position in Slide Insurance in the 4th quarter valued at about $5,893,000. Finally, Blackhawk Capital Partners LLC purchased a new stake in Slide Insurance during the fourth quarter worth about $1,820,000.

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.