Slide Insurance (NASDAQ:SLDE) Director Beth Witte Bruce Sells 21,063 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 21,063 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $18.70, for a total value of $393,878.10. Following the completion of the sale, the director directly owned 203,145 shares in the company, valued at $3,798,811.50. This trade represents a 9.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Beth Witte Bruce also recently made the following trade(s):

• On Wednesday, May 27th, Beth Witte Bruce sold 23,500 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total value of $446,735.00.
• On Friday, May 22nd, Beth Witte Bruce sold 2,437 shares of Slide Insurance stock. The stock was sold at an average price of $18.70, for a total value of $45,571.90.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $473,500.00.

Slide Insurance Trading Up 0.4%

Slide Insurance stock opened at $18.69 on Thursday. The business’s fifty day simple moving average is $18.31 and its two-hundred day simple moving average is $17.78. 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 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 price-to-earnings ratio of 5.19.

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

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

Institutional Investors Weigh In On Slide Insurance

A number of large investors have recently added to or reduced their stakes in SLDE. Comerica Bank grew 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 worth $26,000 after purchasing an additional 1,281 shares during the period. CWM LLC bought a new stake in Slide Insurance in the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance in the 3rd quarter worth approximately $35,000. State of Wyoming bought a new stake in Slide Insurance in the 1st quarter worth approximately $42,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Slide Insurance in the 4th quarter worth approximately $47,000.

Wall Street Analysts Forecast Growth

SLDE has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Piper Sandler lifted their price objective on 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 upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays lifted their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.