Slide Insurance (NASDAQ:SLDE) Director Beth Witte Bruce Sells 23,500 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 23,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $19.01, for a total value of $446,735.00. Following the transaction, the director owned 179,645 shares of the company’s stock, valued at approximately $3,415,051.45. This represents a 11.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Beth Witte Bruce also recently made the following trade(s):

• On Tuesday, May 26th, Beth Witte Bruce sold 21,063 shares of Slide Insurance stock. The stock was sold at an average price of $18.70, for a total value of $393,878.10.
• On Friday, May 22nd, Beth Witte Bruce sold 2,437 shares of Slide Insurance stock. The stock was sold at an average price of $18.70, for a total value of $45,571.90.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $473,500.00.

Slide Insurance Stock Up 0.4%

SLDE traded up $0.08 during trading on Wednesday, reaching $18.69. The stock had a trading volume of 1,880,105 shares, compared to its average volume of 1,576,356. The stock’s 50 day moving average is $18.31 and its two-hundred day moving average is $17.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.14 billion and a price-to-earnings ratio of 5.19. 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 posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. The business had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. As a group, analysts expect that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

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

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors have recently modified their holdings of SLDE. Arrowstreet Capital Limited Partnership grew its stake in shares of Slide Insurance by 298.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after acquiring an additional 2,012,428 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Slide Insurance in the second quarter worth $33,063,000. Capital World Investors grew its stake in shares of Slide Insurance by 49.4% in the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after acquiring an additional 1,483,180 shares during the last quarter. Balyasny Asset Management L.P. grew 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 worth $21,753,000 after acquiring an additional 1,045,826 shares during the last quarter. Finally, HB Wealth Management LLC grew its stake in shares of Slide Insurance by 1,375.7% in the fourth quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock worth $17,388,000 after acquiring an additional 832,102 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SLDE shares. Piper Sandler increased their price objective on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Barclays increased their price objective on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. 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, March 9th. Finally, Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Slide Insurance currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

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.