Slide Insurance (NASDAQ:SLDE) Director Andrew Pardo Wright Sells 15,000 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock in a transaction on Friday, June 26th. The stock was sold at an average price of $19.03, for a total transaction of $285,450.00. Following the sale, the director directly owned 33,998 shares in the company, valued at approximately $646,981.94. This trade represents a 30.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Andrew Pardo Wright also recently made the following trade(s):

• On Wednesday, June 24th, Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total value of $558,346.02.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total value of $191,634.00.
• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The shares were sold at an average price of $18.90, for a total transaction of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $281,250.00.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $19.09 on Friday. The stock has a market cap of $2.19 billion and a PE ratio of 5.30. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $22.15. The stock has a fifty day simple moving average of $18.03 and a 200-day simple moving average of $17.88. 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 (NASDAQ:SLDE) last announced its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 earnings per share for the current year.

Slide Insurance announced that its board has authorized a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays lifted their price objective on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods raised their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Finally, Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.80.

Institutional Investors Weigh In On Slide Insurance

Several institutional investors have recently added to or reduced their stakes in SLDE. Fifth Third Bancorp grew its position in shares of Slide Insurance by 529,826.4% in the 4th quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock valued at $7,433,000 after buying an additional 381,475 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in shares of Slide Insurance in the 4th quarter valued at about $2,235,000. FourThought Financial Partners LLC acquired a new stake in shares of Slide Insurance in the 4th quarter valued at about $5,893,000. Quantbot Technologies LP purchased a new position in Slide Insurance during the 3rd quarter worth approximately $871,000. Finally, First American Bank purchased a new position in Slide Insurance during the 4th quarter worth approximately $7,079,000.

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.