Slide Insurance (NASDAQ:SLDE) Director Sells $517,690.20 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 28,212 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $18.35, for a total transaction of $517,690.20. Following the transaction, the director directly owned 2,003,053 shares in the company, valued at approximately $36,756,022.55. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Slide Insurance Trading Down 2.7%

Shares of NASDAQ SLDE traded down $0.49 during trading on Wednesday, hitting $17.75. 2,532,975 shares of the company traded hands, compared to its average volume of 2,236,213. The firm has a market capitalization of $2.21 billion and a P/E ratio of 6.88. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $17.38 and a 200-day moving average price of $16.63. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods lifted their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Barclays boosted their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Finally, Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Slide Insurance currently has an average rating of “Moderate Buy” and a consensus target price of $24.40.

Hedge Funds Weigh In On Slide Insurance

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

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.