Slide Insurance (NASDAQ:SLDE) Director Sells $100,000.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the transaction, the director directly owned 2,500 shares of the company’s stock, valued at approximately $50,000. This represents a 66.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Slide Insurance Price Performance

Shares of SLDE remained flat at $20.65 during mid-day trading on Tuesday. 844,898 shares of the company traded hands, compared to its average volume of 1,520,400. The business has a fifty day moving average of $19.01 and a 200-day moving average of $18.24. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $23.00. The company has a market cap of $2.41 billion, a PE ratio of 5.04 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a net margin of 40.02% and a return on equity of 52.25%. The firm had revenue of $386.82 million during the quarter. On average, sell-side analysts expect that Slide Insurance Holdings, Inc. will post 3.74 earnings per share for the current year.

Slide Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 annualized dividend and a dividend yield of 1.4%.

Slide Insurance announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank raised its holdings in shares of Slide Insurance by 3,462.2% during the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after buying an additional 1,281 shares during the period. CWM LLC purchased a new position in Slide Insurance in the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance in the third quarter valued at approximately $35,000. State of Wyoming acquired a new stake in Slide Insurance in the first quarter valued at approximately $42,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Slide Insurance during the fourth quarter valued at approximately $47,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays lifted their target price on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Citizens Jmp upped their price target on Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods raised their price objective on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Slide Insurance presently has an average rating of “Moderate Buy” and a consensus price target of $25.40.

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.