Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 118,300 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 118,300 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $18.23, for a total transaction of $2,156,609.00. Following the transaction, the chief executive officer directly owned 39,342,563 shares of the company’s stock, valued at approximately $717,214,923.49. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The stock was sold at an average price of $18.59, for a total transaction of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total transaction of $3,344,114.28.

Slide Insurance Stock Performance

NASDAQ:SLDE traded down $0.78 during mid-day trading on Monday, hitting $17.70. The stock had a trading volume of 2,983,290 shares, compared to its average volume of 1,682,143. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $17.55 and a 200-day simple moving average of $16.45. The stock has a market capitalization of $2.20 billion and a price-to-earnings ratio of 6.86. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.

Analysts Set New Price Targets

Several analysts have weighed in on SLDE shares. Morgan Stanley lifted their target price on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Keefe, Bruyette & Woods lifted their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler raised their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Barclays upped their price target on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.40.

Institutional Trading of Slide Insurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank increased its stake in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after buying an additional 1,281 shares during the period. CWM LLC purchased a new stake in Slide Insurance in the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Slide Insurance during the 3rd quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Slide Insurance during the 4th quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after acquiring an additional 2,468 shares in the last quarter.

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.