Slide Insurance (NASDAQ:SLDE) Insider Sells $308,912.50 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 16,250 shares of Slide Insurance stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.01, for a total transaction of $308,912.50. Following the completion of the transaction, the insider directly owned 16,250 shares in the company, valued at approximately $308,912.50. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Matthew Paul Larson also recently made the following trade(s):

• On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.67, for a total transaction of $210,037.50.
• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The shares were sold at an average price of $20.02, for a total transaction of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total transaction of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.39, for a total transaction of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total transaction of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total transaction of $202,500.00.
• On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total transaction of $213,862.50.

Slide Insurance Price Performance

NASDAQ SLDE opened at $18.61 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a market capitalization of $2.13 billion and a PE ratio of 5.17. The firm’s 50 day moving average is $18.23 and its 200-day moving average is $17.72.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data 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 net margin of 38.86% and a return on equity of 48.38%. The company had revenue of $389.28 million for the quarter. Equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

Slide Insurance announced that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

SLDE has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Piper Sandler boosted their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Finally, Wall Street Zen upgraded shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Slide Insurance has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Institutional Investors Weigh In On Slide Insurance

A number of institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in shares of Slide Insurance by 1,151.3% in the first quarter. Janus Henderson Group PLC now owns 172,683 shares of the company’s stock valued at $3,108,000 after acquiring an additional 158,883 shares during the period. California State Teachers Retirement System boosted its position in shares of Slide Insurance by 9.5% in the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after acquiring an additional 2,189 shares during the period. Royal Bank of Canada boosted its position in shares of Slide Insurance by 221.0% in the first quarter. Royal Bank of Canada now owns 5,993 shares of the company’s stock valued at $109,000 after acquiring an additional 4,126 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Slide Insurance in the first quarter valued at about $655,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Slide Insurance in the first quarter valued at about $953,000.

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.