Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) Director Beth Witte Bruce sold 23,500 shares of Slide Insurance stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $19.01, for a total value of $446,735.00. Following the transaction, the director owned 179,645 shares in the company, valued at $3,415,051.45. This trade represents a 11.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Beth Witte Bruce also recently made the following trade(s):
- On Tuesday, May 26th, Beth Witte Bruce sold 21,063 shares of Slide Insurance stock. The shares were sold at an average price of $18.70, for a total value of $393,878.10.
- On Friday, May 22nd, Beth Witte Bruce sold 2,437 shares of Slide Insurance stock. The shares were sold at an average price of $18.70, for a total value of $45,571.90.
- On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total value of $473,500.00.
Slide Insurance Trading Up 0.4%
NASDAQ:SLDE opened at $18.69 on Thursday. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $2.14 billion and a PE ratio of 5.19. The business’s 50-day simple moving average is $18.31 and its 200-day simple moving average is $17.78.
Slide Insurance declared that its board has authorized a stock buyback plan on Tuesday, April 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank grew its holdings in shares of 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 acquiring an additional 1,281 shares in the last quarter. CWM LLC acquired a new stake in shares of Slide Insurance in the fourth quarter valued at about $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Slide Insurance in the third quarter valued at about $35,000. State of Wyoming acquired a new position in Slide Insurance during the first quarter valued at approximately $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Slide Insurance during the fourth quarter valued at approximately $47,000.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods upped their price objective on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Texas Capital raised Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. One equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.
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