Slide Insurance (NASDAQ:SLDE) Director Stephen Rohde Sells 5,000 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at $95,000. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Slide Insurance Price Performance

Slide Insurance stock opened at $18.20 on Thursday. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $25.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day simple moving average of $18.22 and a 200-day simple moving average of $17.59. The stock has a market capitalization of $2.08 billion and a PE ratio of 5.06.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The business had revenue of $389.28 million during the quarter. Equities analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance announced that its board has approved a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several research analysts recently issued reports on SLDE shares. Piper Sandler increased their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays increased their price objective on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. One investment 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

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.