Insider Selling: Slide Insurance (NASDAQ:SLDE) COO Sells $180,029.72 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 9,763 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $18.44, for a total transaction of $180,029.72. Following the completion of the transaction, the chief operating officer owned 1,553,108 shares of the company’s stock, valued at approximately $28,639,311.52. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 16th, Shannon Lucas sold 22,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.13, for a total transaction of $407,925.00.
• On Wednesday, March 11th, Shannon Lucas sold 270 shares of Slide Insurance stock. The stock was sold at an average price of $17.42, for a total transaction of $4,703.40.
• On Monday, March 9th, Shannon Lucas sold 11,700 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total transaction of $213,291.00.
• On Friday, March 6th, Shannon Lucas sold 23,884 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $444,003.56.
• On Thursday, March 5th, Shannon Lucas sold 17,075 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $330,742.75.

Slide Insurance Stock Performance

Slide Insurance stock opened at $16.37 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 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.04 billion and a P/E ratio of 6.34. The stock’s 50 day moving average is $17.32 and its 200 day moving average is $16.66.

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

Analyst Ratings Changes

SLDE has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Piper Sandler boosted their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Finally, Barclays upped their price target on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $24.40.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors have recently made changes to their positions in SLDE. Comerica Bank increased 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 buying an additional 1,281 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Slide Insurance by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after acquiring an additional 1,704 shares during the last quarter. CWM LLC purchased a new position in shares of Slide Insurance during the 4th quarter worth $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the 3rd quarter valued at $35,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Slide Insurance during the 4th quarter valued at $47,000.

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.