Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 44,467 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 44,467 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $17.12, for a total value of $761,275.04. Following the completion of the transaction, the chief executive officer directly owned 34,506,199 shares in the company, valued at approximately $590,746,126.88. This represents a 0.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, June 10th, Bruce Lucas sold 192,695 shares of Slide Insurance stock. The stock was sold at an average price of $17.03, for a total value of $3,281,595.85.
• On Wednesday, May 27th, Bruce Lucas sold 227,987 shares of Slide Insurance stock. The shares were sold at an average price of $18.95, for a total value of $4,320,353.65.
• On Wednesday, May 20th, Bruce Lucas sold 184,817 shares of Slide Insurance stock. The shares were sold at an average price of $18.78, for a total value of $3,470,863.26.
• On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total value of $5,178,810.00.
• On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total value of $8,672,300.00.
• On Friday, May 15th, Bruce Lucas sold 269,881 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total value of $5,084,558.04.
• On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total value of $1,707,160.00.
• On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total value of $3,260,092.77.
• On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $1,268,830.40.
• On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $1,603,633.72.

Slide Insurance Stock Down 1.4%

SLDE stock opened at $16.70 on Friday. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.91 billion and a PE ratio of 4.64. The business has a 50 day moving average of $18.17 and a 200 day moving average of $17.83.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The company had revenue of $389.28 million during the quarter. On average, research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Slide Insurance News Summary

Here are the key news stories impacting Slide Insurance this week:

• Negative Sentiment: CEO Bruce Lucas sold shares in two transactions this week, including a large sale of 192,695 shares and another of 44,467 shares, trimming his ownership slightly. SEC filing for Bruce Lucas sale
• Negative Sentiment: COO Shannon Lucas also sold shares in two filings, including 19,058 shares and 4,659 shares, adding to the impression of insider selling at SLDE. SEC filing for Shannon Lucas sale
• Negative Sentiment: Insider Matthew Paul Larson sold 13,750 shares, reducing his stake by more than 60%, which may raise concerns about near-term insider confidence. SEC filing for Matthew Paul Larson sale
• Neutral Sentiment: The company’s last reported quarterly results were strong, with earnings of $1.02 per share beating estimates and revenue of $389.28 million, which may help limit downside from the insider sales.

Wall Street Analyst Weigh In

SLDE has been the topic of several recent analyst reports. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods raised their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Barclays raised their price target on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Slide Insurance has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank raised its holdings in Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares during the period. Hsbc Holdings PLC raised its holdings in Slide Insurance by 8.4% during the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock valued at $384,000 after acquiring an additional 1,641 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 during the period. CWM LLC bought a new stake in Slide Insurance during the fourth quarter valued at about $35,000. Finally, California State Teachers Retirement System raised its holdings in Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after acquiring an additional 2,189 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.