Slide Insurance (NASDAQ:SLDE) Director Sells $558,346.02 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 31,002 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $18.01, for a total transaction of $558,346.02. Following the completion of the sale, the director owned 48,998 shares in the company, valued at $882,453.98. This represents a 38.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, June 26th, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $19.03, for a total transaction of $285,450.00.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The shares were 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 stock was sold at an average price of $18.75, for a total value of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total value of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $281,250.00.

Slide Insurance Price Performance

SLDE stock opened at $19.09 on Monday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $22.15. The business’s 50-day moving average is $18.03 and its two-hundred day moving average is $17.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $2.19 billion and a price-to-earnings ratio of 5.30.

Slide Insurance (NASDAQ:SLDE) last released its quarterly 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 business had revenue of $389.28 million during the quarter. As a group, analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

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

Institutional Investors Weigh In On Slide Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Bank boosted its stake in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after acquiring an additional 1,281 shares during the period. CWM LLC bought a new stake in Slide Insurance during the 4th quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new stake in Slide Insurance during the 3rd quarter valued at approximately $35,000. State of Wyoming purchased a new position in Slide Insurance in the 1st quarter worth approximately $42,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Slide Insurance in the 4th quarter worth approximately $47,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SLDE shares. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Barclays upped their price objective on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Finally, Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.