Slide Insurance (NASDAQ:SLDE) CFO Anastasios Omiridis Sells 9,000 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CFO Anastasios Omiridis sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $18.55, for a total value of $166,950.00. Following the completion of the transaction, the chief financial officer owned 330 shares of the company’s stock, valued at approximately $6,121.50. This represents a 96.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Slide Insurance Stock Down 1.0%

Shares of SLDE traded down $0.19 during mid-day trading on Monday, reaching $18.43. 1,466,513 shares of the stock traded hands, compared to its average volume of 1,723,868. The stock has a fifty day simple moving average of $18.19 and a 200 day simple moving average of $17.42. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-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 firm has a market cap of $2.11 billion and a price-to-earnings ratio of 5.12.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 50.01%. The firm had revenue of $389.28 million for the quarter. Sell-side analysts expect that Slide Insurance Holdings, Inc. will post 3.36 EPS for the current fiscal year.

Slide Insurance declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors and hedge funds have recently made changes to their positions in SLDE. Geode Capital Management LLC bought a new position in Slide Insurance during the second quarter worth $2,245,000. Legal & General Group Plc bought a new stake in Slide Insurance during the second quarter valued at $216,000. Norges Bank acquired a new stake in shares of Slide Insurance during the second quarter worth $866,000. Marshall Wace LLP acquired a new stake in shares of Slide Insurance during the second quarter worth $1,056,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Slide Insurance in the 2nd quarter worth about $834,000.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Piper Sandler raised their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Barclays lifted their price target on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.80.

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.