Susquehanna Fundamental Investments LLC Makes New $836,000 Investment in Slide Insurance Holdings, Inc. $SLDE

Susquehanna Fundamental Investments LLC purchased a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 2nd quarter, Holdings Channel reports. The firm purchased 43,175 shares of the company’s stock, valued at approximately $836,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in Slide Insurance in the 2nd quarter worth approximately $98,538,000. Hsbc Holdings PLC bought a new stake in Slide Insurance during the 2nd quarter valued at $1,077,000. World Investment Advisors acquired a new position in Slide Insurance during the 4th quarter worth $1,964,000. Axis Wealth Partners LLC boosted its position in Slide Insurance by 100.0% during the 1st quarter. Axis Wealth Partners LLC now owns 203,502 shares of the company’s stock worth $3,663,000 after acquiring an additional 101,751 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its stake in shares of Slide Insurance by 24.9% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 459,820 shares of the company’s stock worth $8,277,000 after purchasing an additional 91,610 shares in the last quarter.

Insider Buying and Selling

In other news, COO Shannon Lucas sold 4,659 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $17.12, for a total transaction of $79,762.08. Following the completion of the sale, the chief operating officer directly owned 1,118,756 shares of the company’s stock, valued at $19,153,102.72. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $19.51, for a total value of $292,650.00. Following the completion of the transaction, the director owned 18,998 shares of the company’s stock, valued at $370,650.98. This trade represents a 44.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 491,691 shares of company stock valued at $9,021,426 over the last ninety days. 50.80% of the stock is currently owned by company insiders.

Slide Insurance Stock Performance

Shares of SLDE opened at $24.18 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The firm’s 50 day moving average is $21.23 and its 200-day moving average is $19.11. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $24.22. The stock has a market capitalization of $2.82 billion, a P/E ratio of 5.90 and a beta of 0.07.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.88 by $0.18. The business 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%. Equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 14th. Slide Insurance’s payout ratio is presently 6.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Citizens Jmp increased their target price on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research report on Thursday, July 30th. Weiss Ratings raised shares of Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 27th. Morgan Stanley set a $22.00 price target on shares of Slide Insurance in a research note on Monday, August 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $25.40.

Slide Insurance 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.