Slide Insurance (NASDAQ:SLDE) Director Andrew Pardo Wright Sells 10,086 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 10,086 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.00, for a total value of $191,634.00. Following the transaction, the director directly owned 80,000 shares in the company, valued at approximately $1,520,000. This trade represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Andrew Pardo Wright also recently made the following trade(s):

• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total value of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $281,250.00.

Slide Insurance Price Performance

Shares of NASDAQ SLDE opened at $18.48 on Wednesday. The business’s 50 day moving average price is $18.19 and its two-hundred day moving average price is $17.68. The company has a market cap of $2.12 billion and a PE ratio of 5.13. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90.

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

Slide Insurance declared that its board has approved a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SLDE shares. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Barclays upped their target price on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Piper Sandler upped their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Institutional Investors Weigh In On Slide Insurance

A number of large investors have recently added to or reduced their stakes in SLDE. Comerica Bank grew its position in Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after buying an additional 1,281 shares in the last quarter. CWM LLC acquired a new stake in Slide Insurance during the fourth quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance during the third quarter worth approximately $35,000. State of Wyoming acquired a new stake in Slide Insurance during the first quarter worth approximately $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance during the fourth quarter worth approximately $47,000.

Slide Insurance News Roundup

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

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.