Stephen Rohde Sells 5,000 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.00, for a total value of $105,000.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $105,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Slide Insurance Stock Performance

NASDAQ SLDE opened at $20.62 on Wednesday. The company has a market cap of $2.41 billion, a P/E ratio of 5.03 and a beta of -0.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a 50-day moving average of $19.34 and a two-hundred day moving average of $18.43. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $23.00.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. The company had revenue of $386.82 million for the quarter. As a group, analysts anticipate that Slide Insurance Holdings, Inc. will post 3.91 EPS for the current year.

Slide Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 14th.

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

Analyst Upgrades and Downgrades

Several research firms have commented on SLDE. Citigroup restated an “outperform” rating on shares of Slide Insurance in a research note on Thursday, July 30th. Citizens Jmp increased their price objective on Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Thursday, July 30th. Barclays lifted their target price on Slide Insurance from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $25.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLDE. Geode Capital Management LLC purchased a new stake in shares of Slide Insurance in the 2nd quarter valued at approximately $2,245,000. Legal & General Group Plc acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at $216,000. Norges Bank purchased a new stake in shares of Slide Insurance during the 2nd quarter worth $866,000. Marshall Wace LLP purchased a new stake in shares of Slide Insurance during the 2nd quarter worth $1,056,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Slide Insurance during the second quarter worth $834,000.

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.