Slide Insurance Holdings, Inc. $SLDE Shares Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lifted its holdings in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 24.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,820 shares of the company’s stock after buying an additional 91,610 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.40% of Slide Insurance worth $8,277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in Slide Insurance by 3,462.2% in the fourth 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 purchased a new position in shares of Slide Insurance during the 4th quarter worth about $35,000. Ameritas Investment Partners Inc. purchased a new position in Slide Insurance during the third quarter worth approximately $35,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Slide Insurance in the 4th quarter worth $47,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Slide Insurance by 4,839.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after purchasing an additional 2,468 shares in the last quarter.

Insider Buying and Selling

In other news, Director Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.51, for a total transaction of $292,650.00. Following the completion of the sale, the director directly owned 18,998 shares in the company, valued at $370,650.98. The trade was a 44.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Gries, Jr. sold 28,212 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $21.04, for a total transaction of $593,580.48. Following the completion of the sale, the director directly owned 1,749,145 shares of the company’s stock, valued at $36,802,010.80. This represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,382,850 shares of company stock worth $63,811,068. Insiders own 50.80% of the company’s stock.

Slide Insurance Trading Up 0.7%

Shares of NASDAQ:SLDE opened at $21.38 on Tuesday. The company has a 50 day moving average price of $18.44 and a 200 day moving average price of $18.06. The stock has a market capitalization of $2.45 billion and a price-to-earnings ratio of 5.94. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $21.79.

Slide Insurance (NASDAQ:SLDE) last announced 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. The business had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. On average, research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.59 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target (down from $23.00) on shares of Slide Insurance in a report on Monday, July 6th. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Slide Insurance currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.75.

Slide Insurance Company Profile

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.