Slide Insurance (NASDAQ:SLDE) Director Sells $285,450.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $19.03, for a total value of $285,450.00. Following the completion of the sale, the director owned 33,998 shares in the company, valued at approximately $646,981.94. The trade was a 30.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Andrew Pardo Wright also recently made the following trade(s):

• On Wednesday, June 24th, Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total value of $558,346.02.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total value of $191,634.00.
• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total transaction of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $281,250.00.

Slide Insurance Price Performance

Slide Insurance stock opened at $19.09 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market cap of $2.19 billion and a price-to-earnings ratio of 5.30. The firm has a 50-day moving average of $18.03 and a two-hundred day moving average of $17.89. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $22.15.

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 business 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, research 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 approved a stock repurchase program on Tuesday, April 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits 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 leadership believes its stock is undervalued.

Institutional Trading of Slide Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its holdings in shares of Slide Insurance by 529,826.4% during the fourth quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock worth $7,433,000 after purchasing an additional 381,475 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in Slide Insurance during the fourth quarter worth $2,235,000. FourThought Financial Partners LLC acquired a new stake in shares of Slide Insurance during the 4th quarter valued at about $5,893,000. World Investment Advisors acquired a new stake in Slide Insurance in the fourth quarter valued at approximately $1,964,000. Finally, Quantbot Technologies LP acquired a new stake in Slide Insurance in the 3rd quarter valued at $871,000.

Wall Street Analysts Forecast Growth

SLDE has been the topic of a number of recent research reports. Barclays increased their price target on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Finally, Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Slide Insurance has an average rating of “Moderate Buy” and a consensus target price of $24.80.

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.