Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 184,817 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 184,817 shares of Slide Insurance stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $18.78, for a total value of $3,470,863.26. Following the completion of the sale, the chief executive officer directly owned 34,971,348 shares of the company’s stock, valued at approximately $656,761,915.44. The trade was a 0.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 stock was 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 stock was 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 stock was sold at an average price of $18.77, for a total value of $1,603,633.72.
• On Wednesday, April 29th, Bruce Lucas sold 191,276 shares of Slide Insurance stock. The stock was sold at an average price of $19.24, for a total value of $3,680,150.24.
• On Tuesday, April 28th, Bruce Lucas sold 154,207 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $2,920,680.58.
• On Monday, April 27th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $2,559,375.00.

Slide Insurance Stock Performance

SLDE stock opened at $18.63 on Friday. The company has a market cap of $2.13 billion and a P/E ratio of 5.18. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. 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 stock’s fifty day moving average price is $18.25 and its 200-day moving average price is $17.73.

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

Slide Insurance declared that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

SLDE has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Finally, Piper Sandler lifted their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.80.

Hedge Funds Weigh In On Slide Insurance

Several large investors have recently made changes to their positions in the business. Comerica Bank boosted its stake in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after acquiring an additional 1,281 shares during the period. CWM LLC bought a new stake in Slide Insurance during the 4th quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance during the 3rd quarter valued at approximately $35,000. State of Wyoming bought a new stake in Slide Insurance during the 1st quarter valued at approximately $42,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Slide Insurance during the 4th quarter valued at approximately $47,000.

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.