Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 11,374 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Larson sold 11,374 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $24.62, for a total value of $280,027.88. Following the transaction, the insider owned 11,374 shares of the company’s stock, valued at approximately $280,027.88. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Matthew Paul Larson also recently made the following trade(s):

• On Wednesday, June 10th, Matthew Larson sold 13,750 shares of Slide Insurance stock. The stock was sold at an average price of $17.07, for a total value of $234,712.50.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $24.46 on Wednesday. The stock has a market capitalization of $2.86 billion, a PE ratio of 5.97 and a beta of 0.07. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.09. The business has a 50 day simple moving average of $21.68 and a two-hundred day simple moving average of $19.33. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%.The firm had revenue of $386.82 million during the quarter. On average, research analysts predict that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Slide Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. Slide Insurance’s dividend payout ratio (DPR) is presently 6.83%.

Institutional Trading of Slide Insurance

Hedge funds and other institutional investors have recently bought and sold shares of the business. Comerica Bank boosted its stake in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after purchasing an additional 1,281 shares during the period. CWM LLC bought a new stake in Slide Insurance during the 4th quarter valued at about $35,000. Global Retirement Partners LLC bought a new position in Slide Insurance in the 2nd quarter worth about $39,000. Meeder Asset Management Inc. purchased a new position in shares of Slide Insurance during the second quarter worth approximately $40,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Slide Insurance during the third quarter worth approximately $35,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price target on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Morgan Stanley set a $22.00 price objective on shares of Slide Insurance in a research note on Monday, August 3rd. Citigroup reiterated an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Slide Insurance presently has a consensus rating of “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.