PDS Planning Inc Invests $714,000 in Slide Insurance Holdings, Inc. $SLDE

PDS Planning Inc acquired a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 36,663 shares of the company’s stock, valued at approximately $714,000.

Other hedge funds also recently added to or reduced their stakes in the company. CWM LLC purchased a new position in Slide Insurance in the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. purchased a new position in Slide Insurance in the 3rd quarter worth approximately $35,000. Strs Ohio purchased a new position in Slide Insurance in the 3rd quarter worth approximately $77,000. BNP Paribas Financial Markets purchased a new position in Slide Insurance in the 3rd quarter worth approximately $111,000. Finally, New York State Common Retirement Fund purchased a new position in Slide Insurance in the 3rd quarter worth approximately $134,000.

Slide Insurance Price Performance

Shares of SLDE opened at $19.63 on Friday. The firm has a market cap of $2.44 billion and a PE ratio of 7.61. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $17.88 and a two-hundred day simple moving average of $17.20. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.

Wall Street Analysts Forecast Growth

SLDE has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on shares of 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 research note on Friday, December 26th. Barclays boosted their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Slide Insurance currently has an average rating of “Buy” and an average target price of $24.40.

Insider Transactions at Slide Insurance

In other news, CEO Bruce Lucas sold 190,836 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $18.04, for a total value of $3,442,681.44. Following the completion of the sale, the chief executive officer directly owned 37,171,042 shares in the company, valued at $670,565,597.68. This represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Shannon Lucas sold 18,874 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $18.04, for a total value of $340,486.96. Following the completion of the sale, the chief operating officer owned 1,382,574 shares of the company’s stock, valued at $24,941,634.96. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,909,847 shares of company stock worth $53,082,121 in the last three months.

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.