Shannon Lucas Sells 13,389 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 13,389 shares of Slide Insurance stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $18.09, for a total transaction of $242,207.01. Following the completion of the sale, the chief operating officer owned 1,516,226 shares of the company’s stock, valued at $27,428,528.34. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, April 1st, Shannon Lucas sold 868 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total transaction of $15,632.68.
• On Tuesday, March 31st, Shannon Lucas sold 24,429 shares of Slide Insurance stock. The stock was sold at an average price of $18.10, for a total transaction of $442,164.90.
• On Tuesday, March 17th, Shannon Lucas sold 9,763 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total transaction of $180,029.72.
• On Monday, March 16th, Shannon Lucas sold 22,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.13, for a total transaction of $407,925.00.
• On Wednesday, March 11th, Shannon Lucas sold 270 shares of Slide Insurance stock. The shares were sold at an average price of $17.42, for a total value of $4,703.40.
• On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $213,291.00.
• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The stock was 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 NASDAQ:SLDE traded up $0.02 during trading on Thursday, hitting $17.92. The stock had a trading volume of 640,094 shares, compared to its average volume of 1,670,396. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The stock has a market capitalization of $2.23 billion and a price-to-earnings ratio of 6.94. 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 stock has a 50-day simple moving average of $17.50 and a two-hundred day simple moving average of $16.90.

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

Institutional Trading of Slide Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank grew its stake in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares during the period. CWM LLC acquired a new position in Slide Insurance during the fourth quarter worth $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance during the third quarter worth $35,000. Aster Capital Management DIFC Ltd purchased a new position in Slide Insurance during the fourth quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after purchasing an additional 2,468 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Barclays boosted their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Keefe, Bruyette & Woods lifted their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Finally, Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Slide Insurance has an average rating of “Buy” and an average price target of $24.40.

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.