Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells $446,735.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 23,500 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $19.01, for a total transaction of $446,735.00. Following the completion of the sale, the director directly owned 179,645 shares in the company, valued at $3,415,051.45. This trade represents a 11.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Beth Witte Bruce also recently made the following trade(s):

• On Tuesday, May 26th, Beth Witte Bruce sold 21,063 shares of Slide Insurance stock. The shares were sold at an average price of $18.70, for a total transaction of $393,878.10.
• On Friday, May 22nd, Beth Witte Bruce sold 2,437 shares of Slide Insurance stock. The shares were sold at an average price of $18.70, for a total transaction of $45,571.90.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total transaction of $473,500.00.

Slide Insurance Trading Down 1.4%

Shares of Slide Insurance stock opened at $18.03 on Friday. The firm has a market capitalization of $2.07 billion and a PE ratio of 5.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The company’s fifty day moving average price is $18.32 and its two-hundred day moving average price is $17.80. 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 announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The firm had revenue of $389.28 million for the quarter. On average, analysts expect that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

Slide Insurance announced that its board has authorized a stock buyback program on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLDE. Geode Capital Management LLC acquired a new position in Slide Insurance during the 2nd quarter worth about $2,245,000. Legal & General Group Plc acquired a new position in Slide Insurance during the 2nd quarter worth about $216,000. Norges Bank acquired a new position in Slide Insurance during the 2nd quarter worth about $866,000. Marshall Wace LLP acquired a new position in Slide Insurance during the 2nd quarter worth about $1,056,000. Finally, Qube Research & Technologies Ltd acquired a new position in Slide Insurance during the 2nd quarter valued at about $834,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.80.

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.