Slide Insurance (NASDAQ:SLDE) Director Sells $100,000.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. Following the sale, the director directly owned 2,500 shares of the company’s stock, valued at $50,000. This represents a 66.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Slide Insurance Price Performance

Shares of SLDE opened at $21.33 on Friday. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $23.00. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.23. The business’s 50 day moving average price is $19.16 and its two-hundred day moving average price is $18.34. The firm has a market cap of $2.49 billion, a PE ratio of 5.20 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE) last posted 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. The firm had revenue of $386.82 million for the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. On average, equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.91 EPS for the current year.

Slide Insurance Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 annualized dividend and a yield of 1.3%.

Slide Insurance declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Slide Insurance

Several hedge funds have recently bought and sold shares of the business. Comerica Bank raised its holdings in 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 buying an additional 1,281 shares during the last quarter. CWM LLC acquired a new position in shares of Slide Insurance during the fourth quarter valued at about $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the third quarter worth about $35,000. Global Retirement Partners LLC bought a new stake in shares of Slide Insurance during the second quarter worth about $39,000. Finally, State of Wyoming acquired a new stake in shares of Slide Insurance in the 1st quarter worth about $42,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLDE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research note on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Monday. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley set a $22.00 price target on Slide Insurance in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Slide Insurance has a consensus rating of “Buy” and an average price target of $25.40.

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.