Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells $473,500.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 25,000 shares of Slide Insurance stock in a transaction on Friday, February 27th. The shares were sold at an average price of $18.94, for a total transaction of $473,500.00. Following the completion of the sale, the director directly owned 226,645 shares of the company’s stock, valued at approximately $4,292,656.30. This trade represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Slide Insurance Price Performance

SLDE stock opened at $19.47 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.30. The company’s 50-day moving average is $17.61 and its 200-day moving average is $16.38. The stock has a market capitalization of $2.42 billion and a PE ratio of 7.55. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90.

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

Analyst Ratings Changes

SLDE has been the subject of several research reports. Piper Sandler lifted their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Barclays raised their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Finally, Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Institutional Investors Weigh In On Slide Insurance

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new position in shares of Slide Insurance during the 2nd quarter worth approximately $56,229,000. Raymond James Financial Inc. purchased a new stake in shares of Slide Insurance during the second quarter valued at approximately $33,063,000. Capital World Investors lifted its holdings in Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after acquiring an additional 1,483,180 shares during the period. Hood River Capital Management LLC purchased a new position in Slide Insurance in the second quarter worth $31,542,000. Finally, Balyasny Asset Management L.P. boosted its position in Slide Insurance by 314.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock worth $21,753,000 after purchasing an additional 1,045,826 shares during the last quarter.

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.