Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) COO Shannon Lucas sold 45,000 shares of Slide Insurance stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.06, for a total value of $857,700.00. Following the completion of the sale, the chief operating officer owned 1,210,300 shares of the company’s stock, valued at approximately $23,068,318. The trade was a 3.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shannon Lucas also recently made the following trade(s):
- On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total value of $512,190.00.
- On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total value of $502,877.28.
- 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 value of $168,840.00.
- On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total value of $322,422.21.
- 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 value 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 value 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 value 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 value 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 value of $253,125.00.
- On Monday, April 20th, Shannon Lucas sold 11,676 shares of Slide Insurance stock. The shares were sold at an average price of $19.55, for a total value of $228,265.80.
Slide Insurance Trading Up 1.1%
NASDAQ SLDE opened at $18.68 on Thursday. 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 52 week low of $12.53 and a 52 week high of $25.90. The business has a 50 day moving average price of $18.21 and a 200-day moving average price of $17.70. The company has a market cap of $2.14 billion and a price-to-earnings ratio of 5.19.
Slide Insurance declared that its board has authorized a share repurchase plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Slide Insurance News Summary
Here are the key news stories impacting Slide Insurance this week:
- Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and support premium growth. Article Title
- Neutral Sentiment: The company also continues to draw attention after a strong quarterly earnings beat and a recently authorized $100 million share repurchase program, both of which can help underpin investor confidence.
- Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average target price of $24.80.
- Negative Sentiment: Multiple insiders sold shares over May 15-19, including CEO Bruce Lucas, COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson, which may be weighing on sentiment because investors often read clustered insider sales as a sign of limited near-term upside. Article Title Article Title Article Title Article Title
Analyst Ratings Changes
A number of equities research analysts recently weighed in on SLDE shares. Keefe, Bruyette & Woods upped their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Piper Sandler raised 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, Texas Capital raised Slide Insurance to a “strong-buy” rating in a research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.
Get Our Latest Analysis on SLDE
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank increased its stake in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after buying an additional 1,281 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Slide Insurance by 8.4% in the 1st quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock worth $384,000 after buying an additional 1,641 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Slide Insurance by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock worth $313,000 after buying an additional 1,704 shares during the last quarter. CWM LLC bought a new position in shares of Slide Insurance in the fourth quarter valued at approximately $35,000. Finally, California State Teachers Retirement System increased its position in shares of Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after acquiring an additional 2,189 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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