Slide Insurance (NASDAQ:SLDE) CEO Sells $3,442,681.44 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 190,836 shares of Slide Insurance stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $18.04, for a total transaction of $3,442,681.44. Following the transaction, the chief executive officer directly owned 37,171,042 shares in the company, valued at $670,565,597.68. This represents a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, April 13th, Bruce Lucas sold 259,055 shares of Slide Insurance stock. The shares were sold at an average price of $18.05, for a total transaction of $4,675,942.75.
• On Thursday, April 9th, Bruce Lucas sold 273,702 shares of Slide Insurance stock. The shares were sold at an average price of $18.11, for a total transaction of $4,956,743.22.
• On Wednesday, April 8th, Bruce Lucas sold 121,414 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total transaction of $2,186,666.14.
• On Tuesday, April 7th, Bruce Lucas sold 114,077 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $2,053,386.00.
• On Monday, April 6th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.09, for a total transaction of $2,469,285.00.
• On Monday, March 30th, Bruce Lucas sold 135,376 shares of Slide Insurance stock. The shares were sold at an average price of $18.09, for a total transaction of $2,448,951.84.
• On Wednesday, April 1st, Bruce Lucas sold 8,771 shares of Slide Insurance stock. The shares were sold at an average price of $18.01, for a total transaction of $157,965.71.
• On Tuesday, March 31st, Bruce Lucas sold 247,008 shares of Slide Insurance stock. The shares were sold at an average price of $18.10, for a total transaction of $4,470,844.80.
• On Thursday, March 26th, Bruce Lucas sold 178,733 shares of Slide Insurance stock. The shares were sold at an average price of $18.04, for a total transaction of $3,224,343.32.
• On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The shares were sold at an average price of $18.44, for a total transaction of $1,820,323.04.

Slide Insurance Trading Up 3.4%

Slide Insurance stock opened at $19.63 on Friday. The stock has a market cap of $2.44 billion and a P/E ratio of 7.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The firm’s 50 day moving average price is $17.88 and its 200-day moving average price is $17.21.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 17th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Wall Street Zen cut shares of Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Slide Insurance currently has a consensus rating of “Buy” and an average price target of $24.40.

Institutional Investors Weigh In On Slide Insurance

Several large investors have recently bought and sold shares of the business. Capital World Investors increased its position in 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 purchasing an additional 1,483,180 shares during the last quarter. Vanguard Group Inc. boosted its stake in Slide Insurance by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after buying an additional 354,321 shares during the period. Balyasny Asset Management L.P. boosted its stake in Slide Insurance by 27.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock worth $34,250,000 after buying an additional 380,161 shares during the period. Raymond James Financial Inc. purchased a new position in Slide Insurance during the second quarter worth $33,063,000. Finally, Freestone Grove Partners LP boosted its stake in Slide Insurance by 50.3% during the fourth quarter. Freestone Grove Partners LP now owns 986,543 shares of the company’s stock worth $19,218,000 after buying an additional 330,165 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.