Bruce Lucas Sells 227,987 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 227,987 shares of Slide Insurance stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $18.95, for a total value of $4,320,353.65. Following the sale, the chief executive officer directly owned 34,743,361 shares in the company, valued at $658,386,690.95. The trade was a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Bruce Lucas also recently made the following trade(s):

• On Wednesday, May 20th, Bruce Lucas sold 184,817 shares of Slide Insurance stock. The stock was sold at an average price of $18.78, for a total value of $3,470,863.26.
• On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total transaction of $5,178,810.00.
• On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total transaction of $8,672,300.00.
• On Friday, May 15th, Bruce Lucas sold 269,881 shares of Slide Insurance stock. The shares were sold at an average price of $18.84, for a total transaction of $5,084,558.04.
• On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total value of $1,707,160.00.
• On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total transaction of $3,260,092.77.
• On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total transaction of $1,268,830.40.
• On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $1,603,633.72.
• On Wednesday, April 29th, Bruce Lucas sold 191,276 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total value of $3,680,150.24.
• On Tuesday, April 28th, Bruce Lucas sold 154,207 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total transaction of $2,920,680.58.

Slide Insurance Price Performance

Shares of SLDE stock opened at $17.38 on Wednesday. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. 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 stock has a market cap of $1.99 billion and a PE ratio of 4.83. The firm’s 50 day moving average price is $18.33 and its two-hundred day moving average price is $17.81.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, topping 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 EPS for the current year.

Slide Insurance declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank grew 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 valued at $26,000 after acquiring an additional 1,281 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Slide Insurance by 8.4% during the 1st quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after purchasing an additional 1,641 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Slide Insurance by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after purchasing an additional 1,704 shares during the period. CWM LLC acquired a new position in Slide Insurance in the fourth quarter valued at about $35,000. Finally, California State Teachers Retirement System lifted its position in Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock worth $456,000 after purchasing an additional 2,189 shares during the period.

Wall Street Analyst Weigh In

SLDE has been the topic of several recent analyst reports. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, 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 research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Slide Insurance currently has an average rating of “Moderate Buy” and a consensus target price 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.