Beth Witte Bruce Sells 21,063 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 21,063 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $18.70, for a total transaction of $393,878.10. Following the transaction, the director directly owned 203,145 shares of the company’s stock, valued at $3,798,811.50. This trade represents a 9.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Beth Witte Bruce also recently made the following trade(s):

• On Wednesday, May 27th, Beth Witte Bruce sold 23,500 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total value of $446,735.00.
• On Friday, May 22nd, Beth Witte Bruce sold 2,437 shares of Slide Insurance stock. The stock was sold at an average price of $18.70, for a total transaction of $45,571.90.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total transaction of $473,500.00.

Slide Insurance Price Performance

SLDE stock opened at $18.28 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The firm has a market cap of $2.09 billion and a P/E ratio of 5.08. The stock has a 50-day simple moving average of $18.31 and a 200-day simple moving average of $17.79.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.20. The business had revenue of $389.28 million during the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. On average, equities analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLDE. Comerica Bank grew its position in Slide Insurance by 3,462.2% in 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 last quarter. CWM LLC bought a new position in Slide Insurance in the 4th quarter worth about $35,000. Ameritas Investment Partners Inc. bought a new position in Slide Insurance in the 3rd quarter worth about $35,000. State of Wyoming bought a new position in Slide Insurance in the 1st quarter worth about $42,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Slide Insurance in the 4th quarter worth about $47,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SLDE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Piper Sandler boosted their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. Finally, Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

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.