Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) CEO Bruce Lucas sold 192,695 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $17.03, for a total transaction of $3,281,595.85. Following the completion of the sale, the chief executive officer directly owned 34,550,666 shares of the company’s stock, valued at approximately $588,397,841.98. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Bruce Lucas also recently made the following trade(s):
- On Thursday, June 11th, Bruce Lucas sold 44,467 shares of Slide Insurance stock. The stock was sold at an average price of $17.12, for a total transaction of $761,275.04.
- On Wednesday, May 27th, Bruce Lucas sold 227,987 shares of Slide Insurance stock. The stock was sold at an average price of $18.95, for a total transaction of $4,320,353.65.
- On Wednesday, May 20th, Bruce Lucas sold 184,817 shares of Slide Insurance stock. The stock was sold at an average price of $18.78, for a total transaction of $3,470,863.26.
- On Tuesday, May 19th, Bruce Lucas sold 273,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total transaction of $5,178,810.00.
- On Monday, May 18th, Bruce Lucas sold 455,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total transaction of $8,672,300.00.
- On Friday, May 15th, Bruce Lucas sold 269,881 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total transaction of $5,084,558.04.
- On Monday, May 11th, Bruce Lucas sold 91,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.76, for a total transaction of $1,707,160.00.
- On Thursday, May 7th, Bruce Lucas sold 173,317 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total transaction of $3,260,092.77.
- On Monday, May 4th, Bruce Lucas sold 67,205 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total transaction of $1,268,830.40.
- On Friday, May 1st, Bruce Lucas sold 85,436 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total transaction of $1,603,633.72.
Slide Insurance Stock Performance
Shares of Slide Insurance stock opened at $16.70 on Friday. The company has a market capitalization of $1.91 billion and a PE ratio of 4.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50-day simple moving average of $18.17 and a two-hundred day simple moving average of $17.83. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90.
Slide Insurance declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase 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.
Analysts Set New Price Targets
SLDE has been the subject of a number of recent research reports. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Barclays upped their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Piper Sandler upped their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Zacks Research downgraded shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.80.
Check Out Our Latest Stock Analysis on SLDE
Hedge Funds Weigh In On Slide Insurance
Several hedge funds have recently modified their holdings of the stock. Comerica Bank increased its holdings 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 in the last quarter. Hsbc Holdings PLC boosted its position in Slide Insurance by 8.4% in the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company’s stock valued at $384,000 after buying an additional 1,641 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Slide Insurance by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company’s stock valued at $313,000 after buying an additional 1,704 shares during the last quarter. CWM LLC purchased a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Finally, California State Teachers Retirement System boosted its position in Slide Insurance by 9.5% in the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company’s stock valued at $456,000 after buying an additional 2,189 shares during the last quarter.
Slide Insurance News Summary
Here are the key news stories impacting Slide Insurance this week:
- Negative Sentiment: CEO Bruce Lucas sold shares in two transactions this week, including a large sale of 192,695 shares and another of 44,467 shares, trimming his ownership slightly. SEC filing for Bruce Lucas sale
- Negative Sentiment: COO Shannon Lucas also sold shares in two filings, including 19,058 shares and 4,659 shares, adding to the impression of insider selling at SLDE. SEC filing for Shannon Lucas sale
- Negative Sentiment: Insider Matthew Paul Larson sold 13,750 shares, reducing his stake by more than 60%, which may raise concerns about near-term insider confidence. SEC filing for Matthew Paul Larson sale
- Neutral Sentiment: The company’s last reported quarterly results were strong, with earnings of $1.02 per share beating estimates and revenue of $389.28 million, which may help limit downside from the insider sales.
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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