Centiva Capital LP Invests $634,000 in Slide Insurance Holdings, Inc. $SLDE

Centiva Capital LP bought a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 3rd quarter, HoldingsChannel reports. The fund bought 40,142 shares of the company’s stock, valued at approximately $634,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. purchased a new position in Slide Insurance during the second quarter worth about $1,333,000. Geode Capital Management LLC purchased a new stake in Slide Insurance in the 2nd quarter valued at approximately $2,245,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Slide Insurance in the 2nd quarter valued at approximately $2,667,000. Legal & General Group Plc acquired a new position in Slide Insurance during the 2nd quarter worth approximately $216,000. Finally, American Century Companies Inc. purchased a new position in shares of Slide Insurance during the 2nd quarter worth approximately $56,229,000.

Insider Buying and Selling

In related news, CEO Bruce Lucas sold 2,730 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $17.42, for a total value of $47,556.60. Following the sale, the chief executive officer directly owned 39,221,533 shares in the company, valued at $683,239,104.86. The trade was a 0.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shannon Lucas sold 11,700 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $18.23, for a total transaction of $213,291.00. Following the completion of the sale, the chief operating officer directly owned 1,585,641 shares in the company, valued at approximately $28,906,235.43. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 638,681 shares of company stock valued at $11,991,016 in the last three months.

Wall Street Analysts Forecast Growth

SLDE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Barclays increased their price objective on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Morgan Stanley boosted their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.40.

Slide Insurance Price Performance

Shares of NASDAQ:SLDE opened at $17.65 on Monday. The firm has a market capitalization of $2.19 billion and a price-to-earnings ratio of 6.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50 day simple moving average is $17.41 and its 200-day simple moving average is $16.56. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90.

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

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.