Slide Insurance (NASDAQ:SLDE) Insider Sells $44,475.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 2,500 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $17.79, for a total value of $44,475.00. Following the transaction, the insider directly owned 2,500 shares of the company’s stock, valued at approximately $44,475. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, May 26th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.56, for a total value of $208,800.00.
• On Monday, May 18th, Matthew Paul Larson sold 16,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total value of $308,912.50.
• On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.67, for a total value of $210,037.50.
• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The stock was sold at an average price of $20.02, for a total value of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.39, for a total value of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total value of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.

Slide Insurance Price Performance

SLDE stock opened at $16.03 on Friday. The business has a 50 day moving average price of $18.30 and a 200 day moving average price of $17.81. The stock has a market cap of $1.84 billion and a price-to-earnings ratio of 4.45. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. 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 (NASDAQ:SLDE) last posted its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.20. The firm had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. 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 of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Slide Insurance

Large investors have recently modified their holdings of the stock. Fifth Third Bancorp raised its stake in shares of Slide Insurance by 529,826.4% during the fourth quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock worth $7,433,000 after purchasing an additional 381,475 shares during the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in shares of Slide Insurance during the fourth quarter worth approximately $2,235,000. Federated Hermes Inc. purchased a new stake in shares of Slide Insurance during the third quarter worth approximately $9,471,000. Quantbot Technologies LP purchased a new stake in shares of Slide Insurance during the third quarter worth approximately $871,000. Finally, First American Bank purchased a new stake in shares of Slide Insurance during the fourth quarter worth approximately $7,079,000.

Analyst Ratings Changes

A number of brokerages have weighed in on SLDE. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Barclays boosted 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. Finally, Keefe, Bruyette & Woods boosted their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Slide Insurance has an average rating of “Moderate Buy” and a consensus price target 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.