100,837 Shares in Slide Insurance Holdings, Inc. $SLDE Purchased by World Investment Advisors

World Investment Advisors purchased a new stake in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the 4th quarter, Holdings Channel.com reports. The fund purchased 100,837 shares of the company’s stock, valued at approximately $1,964,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Capital World Investors increased its holdings in Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after buying an additional 1,483,180 shares during the period. Vanguard Group Inc. boosted its position in Slide Insurance by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after acquiring an additional 354,321 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Slide Insurance by 27.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after acquiring an additional 380,161 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Slide Insurance in the 2nd quarter valued at $33,063,000. Finally, Freestone Grove Partners LP raised its position in shares of Slide Insurance by 50.3% in the 4th quarter. Freestone Grove Partners LP now owns 986,543 shares of the company’s stock worth $19,218,000 after acquiring an additional 330,165 shares in the last quarter.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $16.58 on Friday. The stock has a 50-day simple moving average of $18.04 and a two-hundred day simple moving average of $17.82. The firm has a market capitalization of $1.90 billion and a P/E ratio of 4.61. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current 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 analysts’ consensus estimates of $0.82 by $0.20. The firm had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. On average, equities analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance declared that its board has initiated a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Slide Insurance

In other Slide Insurance news, CEO Bruce Lucas sold 455,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.06, for a total value of $8,672,300.00. Following the completion of the transaction, the chief executive officer directly owned 35,429,165 shares of the company’s stock, valued at approximately $675,279,884.90. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 5,093,475 shares of company stock valued at $94,400,107 over the last three months. Insiders own 50.80% of the company’s stock.

Analysts Set New Price Targets

SLDE has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Slide Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.

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.