Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 17,075 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 17,075 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $19.37, for a total transaction of $330,742.75. Following the sale, the chief operating officer directly owned 1,632,925 shares of the company’s stock, valued at $31,629,757.25. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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 transaction of $213,291.00.
• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $444,003.56.

Slide Insurance Trading Down 4.2%

Shares of SLDE stock traded down $0.78 during trading hours on Monday, reaching $17.70. 2,983,290 shares of the stock traded hands, compared to its average volume of 1,682,143. 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 firm has a market capitalization of $2.20 billion and a PE ratio of 6.86. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The business has a fifty day moving average price of $17.55 and a 200 day moving average price of $16.45.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays lifted 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. Piper Sandler increased their price objective on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. 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. Finally, Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.40.

Institutional Investors Weigh In On Slide Insurance

Institutional investors have recently made changes to their positions in the company. Comerica Bank grew its stake in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in Slide Insurance by 11.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock valued at $313,000 after acquiring an additional 1,704 shares in the last quarter. CWM LLC acquired a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance in the third quarter valued at approximately $35,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Slide Insurance during the 4th quarter valued at $47,000.

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.