Matthew Paul Larson Sells 16,250 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 16,250 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.01, for a total value of $308,912.50. Following the completion of the sale, the insider owned 16,250 shares in the company, valued at approximately $308,912.50. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.67, for a total value of $210,037.50.
• 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 value of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.39, for a total value of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total value of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $202,500.00.
• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total value of $213,862.50.

Slide Insurance Trading Up 1.1%

Shares of NASDAQ:SLDE opened at $18.68 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 market capitalization of $2.14 billion and a PE ratio of 5.19. The business has a 50 day moving average of $18.21 and a two-hundred day moving average of $17.70. 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 announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The company had revenue of $389.28 million during the quarter. As a group, analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

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

Key Headlines Impacting Slide Insurance

Here are the key news stories impacting Slide Insurance this week:

• Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and support premium growth. Article Title
• Neutral Sentiment: The company also continues to draw attention after a strong quarterly earnings beat and a recently authorized $100 million share repurchase program, both of which can help underpin investor confidence.
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average target price of $24.80.
• Negative Sentiment: Multiple insiders sold shares over May 15-19, including CEO Bruce Lucas, COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson, which may be weighing on sentiment because investors often read clustered insider sales as a sign of limited near-term upside. Article Title Article Title Article Title Article Title

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SLDE shares. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays upped their target price on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research note 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.80.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SLDE. Comerica Bank raised its stake 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 purchasing an additional 1,281 shares during the last quarter. CWM LLC acquired a new position in Slide Insurance in the 4th quarter valued at $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance in the 3rd quarter valued at $35,000. State of Wyoming acquired a new position in Slide Insurance in the 1st quarter valued at $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Slide Insurance in 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.