Shannon Lucas Sells 22,548 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 22,548 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $18.95, for a total transaction of $427,284.60. Following the completion of the sale, the chief operating officer owned 1,142,473 shares of the company’s stock, valued at $21,649,863.35. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, May 20th, Shannon Lucas sold 18,279 shares of Slide Insurance stock. The shares were sold at an average price of $18.78, for a total transaction of $343,279.62.
• On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.97, for a total transaction of $512,190.00.
• On Monday, May 18th, Shannon Lucas sold 45,000 shares of Slide Insurance stock. The shares were sold at an average price of $19.06, for a total transaction of $857,700.00.
• On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The shares were sold at an average price of $18.84, for a total transaction of $502,877.28.
• On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.76, for a total transaction of $168,840.00.
• On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The shares were sold at an average price of $18.81, for a total transaction of $322,422.21.
• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The shares were sold at an average price of $18.88, for a total transaction of $125,495.36.
• On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total transaction of $158,606.50.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total transaction of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total transaction of $288,853.94.

Slide Insurance Stock Down 2.5%

Slide Insurance stock opened at $17.38 on Wednesday. The stock has a market cap of $1.99 billion and a P/E ratio of 4.83. 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 Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The company’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 released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.20. The firm had revenue of $389.28 million for the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. As a group, analysts expect that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

Slide Insurance declared that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SLDE. Comerica Bank increased its holdings in shares of Slide Insurance by 3,462.2% during the fourth 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 period. CWM LLC bought a new position in shares of Slide Insurance during the fourth quarter worth approximately $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Slide Insurance during the third quarter worth approximately $35,000. State of Wyoming bought a new position in shares of Slide Insurance during the first quarter worth approximately $42,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Slide Insurance during the fourth quarter worth approximately $47,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SLDE shares. Piper Sandler increased their price target on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays increased their price target on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.