Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 11,250 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 11,250 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $19.39, for a total value of $218,137.50. Following the completion of the sale, the insider directly owned 8,750 shares in the company, valued at $169,662.50. The trade was a 56.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The shares were 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 stock was sold at an average price of $18.00, for a total transaction of $180,000.00.
• On Monday, April 6th, 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 transaction of $202,500.00.
• On Monday, March 30th, 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 Tuesday, March 24th, 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 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 opened at $18.98 on Tuesday. 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 business’s 50 day moving average price is $17.92 and its 200-day moving average price is $17.25. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90. The stock has a market cap of $2.36 billion and a P/E ratio of 7.36.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter. Equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLDE has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Zacks Research raised Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Barclays lifted their price target on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $24.40.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Capital World Investors boosted its holdings in Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after acquiring an additional 1,483,180 shares during the period. Vanguard Group Inc. raised its position in Slide Insurance by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after purchasing an additional 354,321 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Slide Insurance by 27.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after purchasing an additional 380,161 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Slide Insurance in the 2nd quarter worth $33,063,000. Finally, Freestone Grove Partners LP grew its position in shares of Slide Insurance by 50.3% during the 4th 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 in the last quarter.

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.