Slide Insurance (NASDAQ:SLDE) COO Sells $322,422.21 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 17,141 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.81, for a total transaction of $322,422.21. Following the completion of the transaction, the chief operating officer directly owned 1,290,992 shares of the company’s stock, valued at $24,283,559.52. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total value of $168,840.00.
• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The shares were sold at an average price of $18.88, for a total value of $125,495.36.
• On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $158,606.50.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The stock was sold at an average price of $19.24, for a total value of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $288,853.94.
• On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $253,125.00.
• On Monday, April 20th, Shannon Lucas sold 11,676 shares of Slide Insurance stock. The shares were sold at an average price of $19.55, for a total transaction of $228,265.80.
• On Tuesday, April 14th, Shannon Lucas sold 18,874 shares of Slide Insurance stock. The shares were sold at an average price of $18.04, for a total transaction of $340,486.96.
• On Monday, April 13th, Shannon Lucas sold 25,621 shares of Slide Insurance stock. The shares were sold at an average price of $18.05, for a total transaction of $462,459.05.
• On Thursday, April 9th, Shannon Lucas sold 27,069 shares of Slide Insurance stock. The shares were sold at an average price of $18.11, for a total value of $490,219.59.

Slide Insurance Price Performance

Shares of NASDAQ:SLDE traded up $0.10 during mid-day trading on Monday, reaching $18.56. The stock had a trading volume of 1,327,143 shares, compared to its average volume of 1,766,007. The business’s 50 day moving average price is $18.25 and its 200 day moving average price is $17.55. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a market cap of $2.13 billion and a P/E ratio of 5.16. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings data 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 business 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%. Research analysts expect that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance announced that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays boosted their price objective on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Piper Sandler raised their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Texas Capital raised Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in Slide Insurance by 3,462.2% in the 4th 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 period. CWM LLC bought a new position in Slide Insurance in the 4th quarter worth about $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the third quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Slide Insurance in the fourth quarter valued at approximately $47,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Slide Insurance by 4,839.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after purchasing an additional 2,468 shares during the period.

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.