Slide Insurance (NASDAQ:SLDE) COO Sells $444,003.56 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 23,884 shares of Slide Insurance stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $18.59, for a total value of $444,003.56. Following the sale, the chief operating officer directly owned 1,609,041 shares of the company’s stock, valued at approximately $29,912,072.19. This trade represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shannon Lucas also recently made the following trade(s):

• On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $213,291.00.
• On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total value of $330,742.75.

Slide Insurance Stock Performance

Shares of NASDAQ SLDE opened at $17.22 on Thursday. The stock’s 50-day moving average is $17.47 and its 200 day moving average is $16.48. The stock has a market cap of $2.14 billion and a price-to-earnings ratio of 6.67. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank increased its stake in shares of 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 during the period. Price T Rowe Associates Inc. MD boosted its position in Slide Insurance by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock valued at $313,000 after buying an additional 1,704 shares during the period. CWM LLC bought a new stake in Slide Insurance in the 4th quarter worth $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance in the 3rd quarter worth $35,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Slide Insurance in the fourth quarter valued at about $47,000.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Barclays boosted their price target on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Keefe, Bruyette & Woods raised their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler lifted 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. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Slide Insurance presently has an average rating of “Moderate Buy” and a consensus price target of $24.40.

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.