Slide Insurance (NASDAQ:SLDE) CEO Sells $3,224,343.32 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 178,733 shares of the stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $18.04, for a total transaction of $3,224,343.32. Following the transaction, the chief executive officer owned 38,657,781 shares of the company’s stock, valued at approximately $697,386,369.24. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $1,820,323.04.
• On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.13, for a total value of $4,124,575.00.
• On Wednesday, March 11th, Bruce Lucas sold 2,730 shares of Slide Insurance stock. The shares were sold at an average price of $17.42, for a total value of $47,556.60.
• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $3,344,114.28.

Slide Insurance Trading Down 2.6%

Shares of Slide Insurance stock opened at $17.56 on Friday. The stock has a market cap of $2.18 billion and a P/E ratio of 6.81. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The business’s 50 day moving average is $17.40 and its 200-day moving average is $16.79.

Slide Insurance (NASDAQ:SLDE) last released its 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 firm had revenue of $347.01 million during the quarter.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 17th. Barclays lifted their price target on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $24.40.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently modified their holdings of the stock. Comerica Bank raised its position 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 valued at $26,000 after purchasing an additional 1,281 shares during the period. CWM LLC bought a new stake in shares of Slide Insurance during the 4th quarter worth about $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the 3rd quarter worth about $35,000. Aster Capital Management DIFC Ltd acquired a new position in Slide Insurance in the 4th quarter valued at about $47,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Slide Insurance by 4,839.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after acquiring an additional 2,468 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.