Bruce Lucas Sells 178,733 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 178,733 shares of Slide Insurance stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $18.04, for a total transaction of $3,224,343.32. Following the completion of the transaction, the chief executive officer owned 38,657,781 shares in the company, valued at $697,386,369.24. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The shares were sold at an average price of $18.44, for a total transaction of $1,820,323.04.
• On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.13, for a total value of $4,124,575.00.
• On Wednesday, March 11th, Bruce Lucas sold 2,730 shares of Slide Insurance stock. The stock was sold at an average price of $17.42, for a total value of $47,556.60.
• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $3,344,114.28.

Slide Insurance Price Performance

Shares of SLDE stock opened at $17.56 on Monday. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90. The firm has a market cap of $2.18 billion and a PE ratio of 6.81. The stock has a 50 day moving average of $17.40 and a 200-day moving average of $16.84. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data 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 company had revenue of $347.01 million during the quarter.

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds have recently made changes to their positions in SLDE. American Century Companies Inc. acquired a new stake in shares of Slide Insurance during the 2nd quarter valued at about $56,229,000. Raymond James Financial Inc. bought a new position in Slide Insurance during the second quarter worth about $33,063,000. Capital World Investors lifted its stake in Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after purchasing an additional 1,483,180 shares during the period. Hood River Capital Management LLC acquired a new stake in Slide Insurance during the second quarter valued at approximately $31,542,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Slide Insurance by 314.8% during the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock valued at $21,753,000 after purchasing an additional 1,045,826 shares in the last quarter.

Analyst Upgrades and Downgrades

SLDE has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Barclays boosted their price target on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Finally, Piper Sandler upped their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average 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.