Bruce Lucas Sells 2,730 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 2,730 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $17.42, for a total value of $47,556.60. Following the completion of the sale, the chief executive officer owned 39,221,533 shares of the company’s stock, valued at $683,239,104.86. This represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $3,344,114.28.

Slide Insurance Stock Performance

SLDE traded up $0.06 during trading on Thursday, reaching $17.28. 2,229,081 shares of the company’s stock were exchanged, compared to its average volume of 1,922,168. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $17.43 and a 200 day moving average price of $16.49. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The business had revenue of $347.01 million during the quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLDE. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Morgan Stanley upped their price objective on Slide Insurance from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Barclays increased their target price on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Piper Sandler boosted their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.40.

Hedge Funds Weigh In On Slide Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank grew its stake in Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after buying an additional 1,281 shares during the last quarter. CWM LLC bought a new position in shares of Slide Insurance in the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance in the third quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Slide Insurance in the 4th quarter worth approximately $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings 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 worth $49,000 after acquiring an additional 2,468 shares in the last quarter.

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.