Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 192,695 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 192,695 shares of Slide Insurance stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $17.03, for a total transaction of $3,281,595.85. Following the completion of the transaction, the chief executive officer owned 34,550,666 shares in the company, valued at approximately $588,397,841.98. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, June 11th, Bruce Lucas sold 44,467 shares of Slide Insurance stock. The shares were sold at an average price of $17.12, for a total transaction of $761,275.04.
• On Wednesday, May 27th, Bruce Lucas sold 227,987 shares of Slide Insurance stock. The shares were sold at an average price of $18.95, for a total transaction of $4,320,353.65.
• On Wednesday, May 20th, Bruce Lucas sold 184,817 shares of Slide Insurance stock. The shares were sold at an average price of $18.78, for a total transaction of $3,470,863.26.
• On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.97, for a total transaction of $5,178,810.00.
• On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The shares were sold at an average price of $19.06, for a total transaction of $8,672,300.00.
• On Friday, May 15th, Bruce Lucas sold 269,881 shares of Slide Insurance stock. The shares were sold at an average price of $18.84, for a total transaction of $5,084,558.04.
• On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total transaction of $1,707,160.00.
• On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total transaction of $3,260,092.77.
• On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The shares were sold at an average price of $18.88, for a total transaction of $1,268,830.40.
• On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total transaction of $1,603,633.72.

Slide Insurance Price Performance

Shares of NASDAQ SLDE traded down $0.24 during trading on Friday, hitting $16.70. 582,241 shares of the company were exchanged, compared to its average volume of 1,569,967. The company has a market cap of $1.91 billion and a price-to-earnings ratio of 4.64. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The firm’s fifty day moving average price is $18.19 and its 200 day moving average price is $17.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.82 by $0.20. The company had revenue of $389.28 million for the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. On average, sell-side analysts expect that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

SLDE has been the topic of several recent research reports. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Piper Sandler boosted their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Keefe, Bruyette & Woods boosted their price objective 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. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Barclays boosted their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Slide Insurance by 529,826.4% during the 4th quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock worth $7,433,000 after buying an additional 381,475 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new position in shares of Slide Insurance in the 4th quarter worth $2,235,000. FourThought Financial Partners LLC purchased a new position in shares of Slide Insurance in the 4th quarter worth $5,893,000. Quantbot Technologies LP purchased a new position in shares of Slide Insurance in the 3rd quarter worth $871,000. Finally, First American Bank purchased a new position in shares of Slide Insurance in the 4th quarter worth $7,079,000.

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.