Bruce Lucas Sells 184,817 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 184,817 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $18.78, for a total value of $3,470,863.26. Following the sale, the chief executive officer owned 34,971,348 shares in the company, valued at approximately $656,761,915.44. The trade was a 0.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total value of $5,178,810.00.
• On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total value of $8,672,300.00.
• On Friday, May 15th, Bruce Lucas sold 269,881 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total value of $5,084,558.04.
• On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total value of $1,707,160.00.
• On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total value of $3,260,092.77.
• On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The shares were sold at an average price of $18.88, for a total value of $1,268,830.40.
• On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $1,603,633.72.
• On Wednesday, April 29th, Bruce Lucas sold 191,276 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total value of $3,680,150.24.
• On Tuesday, April 28th, Bruce Lucas sold 154,207 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total value of $2,920,680.58.
• On Monday, April 27th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $2,559,375.00.

Slide Insurance Stock Up 0.1%

NASDAQ:SLDE traded up $0.02 on Friday, hitting $18.63. 712,825 shares of the company’s stock traded hands, compared to its average volume of 1,694,064. 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 Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The firm has a 50-day moving average price of $18.25 and a 200-day moving average price of $17.73. The company has a market cap of $2.13 billion and a PE ratio of 5.17.

Slide Insurance (NASDAQ:SLDE) last released its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating 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 company had revenue of $389.28 million for the quarter. Equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLDE. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Barclays boosted their price target on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Slide Insurance has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Institutional Investors Weigh In On Slide Insurance

A number of large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC boosted its position in Slide Insurance by 1,151.3% during the first quarter. Janus Henderson Group PLC now owns 172,683 shares of the company’s stock worth $3,108,000 after purchasing an additional 158,883 shares during the period. California State Teachers Retirement System boosted its position in Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock worth $456,000 after purchasing an additional 2,189 shares during the period. Royal Bank of Canada boosted its position in Slide Insurance by 221.0% during the first quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock worth $109,000 after purchasing an additional 4,126 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Slide Insurance during the first quarter worth approximately $655,000. Finally, Quantinno Capital Management LP bought a new stake in Slide Insurance during the first quarter worth approximately $953,000.

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.