Shannon Lucas Sells 23,884 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 23,884 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $18.59, for a total transaction of $444,003.56. Following the completion of the transaction, the chief operating officer directly owned 1,609,041 shares of the company’s stock, valued at $29,912,072.19. This trade represents a 1.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $213,291.00.
• On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $330,742.75.

Slide Insurance Trading Down 4.2%

NASDAQ:SLDE traded down $0.78 on Monday, reaching $17.70. The company’s stock had a trading volume of 2,983,290 shares, compared to its average volume of 1,682,143. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The business’s 50-day moving average price is $17.55 and its two-hundred day moving average price is $16.45. The firm has a market cap of $2.20 billion and a PE ratio of 6.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data 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 business had revenue of $347.01 million for the quarter.

Institutional Trading of Slide Insurance

A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. acquired a new position in Slide Insurance during the second quarter worth $56,229,000. Raymond James Financial Inc. acquired a new position in shares of Slide Insurance during the 2nd quarter worth about $33,063,000. Capital World Investors boosted its stake in shares of Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after buying an additional 1,483,180 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Slide Insurance in the 2nd quarter valued at about $31,542,000. Finally, Balyasny Asset Management L.P. increased its position 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 valued at $21,753,000 after acquiring an additional 1,045,826 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SLDE shares. Barclays upped 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Morgan Stanley increased their target price on Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Finally, Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Slide Insurance has an average rating of “Moderate Buy” and a consensus target price of $24.40.

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.