Matthew Paul Larson Sells 13,750 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 13,750 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $17.07, for a total transaction of $234,712.50. Following the sale, the insider directly owned 8,998 shares of the company’s stock, valued at $153,595.86. This represents a 60.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, June 1st, Matthew Paul Larson sold 2,500 shares of Slide Insurance stock. The shares were sold at an average price of $17.79, for a total transaction of $44,475.00.
• On Tuesday, May 26th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.56, for a total transaction of $208,800.00.
• On Monday, May 18th, Matthew Paul Larson sold 16,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total transaction of $308,912.50.
• 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 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.

Slide Insurance Trading Down 1.4%

Shares of Slide Insurance stock traded down $0.24 on Friday, reaching $16.70. 582,241 shares of the company’s stock were exchanged, compared to its average volume of 1,569,967. The company has a market capitalization of $1.91 billion and a P/E ratio of 4.64. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90. The firm’s 50-day moving average is $18.19 and its two-hundred day moving average is $17.83. 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 (NASDAQ:SLDE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. The firm had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Sell-side analysts predict that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Slide Insurance

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays increased their price target on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler increased their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their target price on 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 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average 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.