Slide Insurance (NASDAQ:SLDE) COO Sells $213,291.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 11,700 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $18.23, for a total value of $213,291.00. Following the sale, the chief operating officer directly owned 1,597,341 shares of the company’s stock, valued at $29,119,526.43. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $444,003.56.
• On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total value of $330,742.75.

Slide Insurance Stock Performance

Shares of Slide Insurance stock traded down $0.78 during trading hours on Monday, hitting $17.70. 2,983,290 shares of the company were exchanged, compared to its average volume of 1,682,143. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $17.55 and a 200-day moving average of $16.45. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The stock has a market capitalization of $2.20 billion and a price-to-earnings ratio of 6.86.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Hedge Funds Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in SLDE. American Century Companies Inc. purchased a new position in shares of Slide Insurance in the 2nd quarter valued at about $56,229,000. Raymond James Financial Inc. acquired a new stake in shares of Slide Insurance in the second quarter valued at about $33,063,000. Capital World Investors boosted 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 worth $70,767,000 after buying an additional 1,483,180 shares in the last quarter. Hood River Capital Management LLC acquired a new position in Slide Insurance during the second quarter worth about $31,542,000. Finally, Balyasny Asset Management L.P. grew its position in Slide Insurance by 314.8% during the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock worth $21,753,000 after buying an additional 1,045,826 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SLDE shares. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Morgan Stanley lifted their price objective on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Keefe, Bruyette & Woods increased their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.40.

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.