Slide Insurance (NASDAQ:SLDE) Director Sells $517,690.20 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 28,212 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $18.35, for a total transaction of $517,690.20. Following the transaction, the director directly owned 2,003,053 shares in the company, valued at approximately $36,756,022.55. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Slide Insurance Price Performance

Shares of SLDE stock opened at $16.37 on Friday. The firm has a fifty day simple moving average of $17.32 and a 200-day simple moving average of $16.66. The company has a market capitalization of $2.04 billion and a PE ratio of 6.34. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million for the quarter.

Hedge Funds Weigh In On Slide Insurance

Several institutional investors have recently made changes to their positions in SLDE. Comerica Bank raised its position in shares of Slide Insurance by 3,462.2% during 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 shares of Slide Insurance in the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance during the 3rd quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd bought a new position in Slide Insurance during the 4th quarter worth $47,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in Slide Insurance by 4,839.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock worth $49,000 after buying an additional 2,468 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SLDE shares. Piper Sandler boosted their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Barclays raised their price objective on Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $24.40.

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.