Slide Insurance (NASDAQ:SLDE) Insider Sells $308,912.50 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 16,250 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $19.01, for a total transaction of $308,912.50. Following the sale, the insider directly owned 16,250 shares in the company, valued at $308,912.50. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.67, for a total transaction of $210,037.50.
• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The shares were sold at an average price of $20.02, for a total value of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.39, for a total value of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total value of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.
• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total transaction of $213,862.50.

Slide Insurance Stock Performance

Shares of SLDE stock traded down $0.50 during trading hours on Tuesday, reaching $18.48. The company had a trading volume of 1,257,810 shares, compared to its average volume of 1,627,024. The firm has a market cap of $2.12 billion and a PE ratio of 5.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The business has a fifty day moving average price of $18.19 and a 200-day moving average price of $17.68. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.20. The firm had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance declared that its board has initiated a share repurchase program on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Slide Insurance

Several large investors have recently added to or reduced their stakes in the company. Comerica Bank increased its stake in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after purchasing an additional 1,281 shares in the last quarter. CWM LLC bought a new stake in shares of Slide Insurance during the 4th quarter valued at $35,000. Ameritas Investment Partners Inc. purchased a new position in shares of Slide Insurance during the 3rd quarter valued at $35,000. State of Wyoming bought a new position in Slide Insurance in the 1st quarter worth $42,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Slide Insurance in the 4th quarter worth $47,000.

Slide Insurance News Summary

Here are the key news stories impacting Slide Insurance this week:

• Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and boost premium growth. Article Title
• Neutral Sentiment: The company’s CEO Bruce Lucas sold shares in multiple transactions over May 15-19, and COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson also sold stock, adding to investor focus on insider activity. Article Title Article Title Article Title Article Title
• Negative Sentiment: The clustering of insider sales may be weighing on sentiment, since investors often view heavy selling by management as a sign that shares may be fairly valued or that near-term upside is limited. Article Title

Analyst Ratings Changes

Several brokerages have recently weighed in on SLDE. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Piper Sandler raised 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 target price on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Finally, Barclays boosted their price target on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

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.