Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) COO Shannon Lucas sold 17,141 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.81, for a total transaction of $322,422.21. Following the completion of the sale, the chief operating officer owned 1,290,992 shares of the company’s stock, valued at $24,283,559.52. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shannon Lucas also recently made the following trade(s):
- On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.76, for a total transaction of $168,840.00.
- On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The stock was 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 stock was 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 stock was 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 stock was sold at an average price of $18.94, for a total transaction of $288,853.94.
- On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total transaction of $253,125.00.
- On Monday, April 20th, Shannon Lucas sold 11,676 shares of Slide Insurance stock. The stock was sold at an average price of $19.55, for a total transaction of $228,265.80.
- On Tuesday, April 14th, Shannon Lucas sold 18,874 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $340,486.96.
- On Monday, April 13th, Shannon Lucas sold 25,621 shares of Slide Insurance stock. The stock was sold at an average price of $18.05, for a total transaction of $462,459.05.
- On Thursday, April 9th, Shannon Lucas sold 27,069 shares of Slide Insurance stock. The stock was sold at an average price of $18.11, for a total value of $490,219.59.
Slide Insurance Trading Up 0.4%
NASDAQ:SLDE opened at $18.63 on Wednesday. The stock has a fifty day moving average price of $18.24 and a two-hundred day moving average price of $17.58. The stock has a market capitalization of $2.13 billion and a price-to-earnings ratio of 5.18. 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 Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90.
Slide Insurance declared that its board has initiated a stock buyback program on Tuesday, April 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Key Slide Insurance News
Here are the key news stories impacting Slide Insurance this week:
- Negative Sentiment: CEO Bruce Lucas sold 91,000 shares at an average price of $18.76, following a much larger sale earlier in the week of 173,317 shares. Heavy insider selling from the CEO is often seen as a bearish signal by investors. SEC filing
- Negative Sentiment: COO Shannon Lucas also sold shares twice in the period, including 9,000 shares on May 11 and 17,141 shares on May 7, adding to concerns that management may be reducing exposure after the stock’s recent strength. SEC filing
- Negative Sentiment: Director Andrew Pardo Wright sold 6,316 shares, and had already sold 15,000 shares earlier in the month, reinforcing the pattern of insider selling across multiple executives and directors. SEC filing
- Neutral Sentiment: Slide Insurance’s recent earnings report was solid, with EPS of $1.02 versus estimates of $0.82, and the company also authorized a $100 million share repurchase program, which supports the longer-term story. Related article
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Barclays increased their price objective on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Piper Sandler upped their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. 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 stock currently has an average rating of “Moderate Buy” and an average target price of $24.80.
Read Our Latest Analysis on Slide Insurance
Institutional Trading of Slide Insurance
Several large investors have recently bought and sold shares of SLDE. Comerica Bank boosted its stake 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 valued at $26,000 after acquiring an additional 1,281 shares during the last quarter. CWM LLC acquired a new stake in shares of Slide Insurance during the fourth quarter valued at $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Slide Insurance during the third quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Slide Insurance during the fourth quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after acquiring an additional 2,468 shares during the last quarter.
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.
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