PDS Planning Inc Invests $714,000 in Slide Insurance Holdings, Inc. $SLDE

PDS Planning Inc bought a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 36,663 shares of the company’s stock, valued at approximately $714,000.

Several other hedge funds also recently bought and sold shares of SLDE. Geode Capital Management LLC bought a new position in Slide Insurance in the 2nd quarter worth $2,245,000. Legal & General Group Plc bought a new position in Slide Insurance in the 2nd quarter worth $216,000. Norges Bank bought a new position in Slide Insurance in the 2nd quarter worth $866,000. Marshall Wace LLP bought a new position in Slide Insurance in the 2nd quarter worth $1,056,000. Finally, Qube Research & Technologies Ltd bought a new position in Slide Insurance in the 2nd quarter worth $834,000.

Slide Insurance Stock Up 3.4%

SLDE opened at $19.63 on Friday. The firm has a 50-day simple moving average of $17.88 and a two-hundred day simple moving average of $17.20. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90. The company has a market capitalization of $2.44 billion and a PE ratio of 7.61. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03.

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

Insider Activity

In other news, insider Matthew Paul Larson sold 10,000 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00. Following the sale, the insider directly owned 10,000 shares in the company, valued at approximately $180,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bruce Lucas sold 190,836 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $18.04, for a total transaction of $3,442,681.44. Following the sale, the chief executive officer owned 37,171,042 shares in the company, valued at $670,565,597.68. This represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,909,847 shares of company stock worth $53,082,121.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLDE. 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Barclays upped their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target 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.