Slide Insurance (NASDAQ:SLDE) Insider Sells $210,037.50 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 11,250 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $18.67, for a total transaction of $210,037.50. Following the sale, the insider directly owned 11,250 shares of the company’s stock, valued at $210,037.50. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Matthew Paul Larson also recently made the following trade(s):

• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The shares were sold at an average price of $20.02, for a total transaction of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total transaction of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.39, for a total transaction of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total transaction of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total transaction of $213,862.50.

Slide Insurance Stock Down 2.3%

NASDAQ:SLDE traded down $0.43 during mid-day trading on Wednesday, reaching $18.20. The company’s stock had a trading volume of 1,180,583 shares, compared to its average volume of 1,722,908. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The stock has a fifty day moving average of $18.22 and a 200-day moving average of $17.59. The firm has a market capitalization of $2.08 billion and a PE ratio of 5.18. The company has a quick ratio of 1.33, a current 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 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 48.38%. The company had revenue of $389.28 million during the quarter. Equities research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several research firms have commented on SLDE. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Piper Sandler increased 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. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.80.

Hedge Funds Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Slide Insurance by 152.5% in the 1st quarter. Bank of New York Mellon Corp now owns 152,359 shares of the company’s stock worth $2,742,000 after buying an additional 92,029 shares during the period. Blackhawk Capital Partners LLC grew its stake in shares of Slide Insurance by 58.6% during the 1st quarter. Blackhawk Capital Partners LLC now owns 148,222 shares of the company’s stock worth $2,668,000 after purchasing an additional 54,771 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in shares of Slide Insurance by 24.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 459,820 shares of the company’s stock worth $8,277,000 after purchasing an additional 91,610 shares during the period. Emerald Advisers LLC grew its stake in shares of Slide Insurance by 40.5% during the 1st quarter. Emerald Advisers LLC now owns 85,885 shares of the company’s stock worth $1,546,000 after purchasing an additional 24,740 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Slide Insurance by 10.9% during the 1st quarter. Fifth Third Bancorp now owns 423,202 shares of the company’s stock worth $7,618,000 after purchasing an additional 41,655 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.