Insider Selling: Slide Insurance (NASDAQ:SLDE) CEO Sells 118,055 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 118,055 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $19.55, for a total transaction of $2,307,975.25. Following the sale, the chief executive officer owned 37,052,987 shares of the company’s stock, valued at approximately $724,385,895.85. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Bruce Lucas also recently made the following trade(s):

• On Tuesday, April 14th, Bruce Lucas sold 190,836 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $3,442,681.44.
• On Monday, April 13th, Bruce Lucas sold 259,055 shares of Slide Insurance stock. The stock was sold at an average price of $18.05, for a total transaction of $4,675,942.75.
• On Thursday, April 9th, Bruce Lucas sold 273,702 shares of Slide Insurance stock. The stock was sold at an average price of $18.11, for a total transaction of $4,956,743.22.
• On Wednesday, April 8th, Bruce Lucas sold 121,414 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $2,186,666.14.
• On Tuesday, April 7th, Bruce Lucas sold 114,077 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $2,053,386.00.
• On Monday, April 6th, Bruce Lucas sold 136,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total transaction of $2,469,285.00.
• On Monday, March 30th, Bruce Lucas sold 135,376 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total transaction of $2,448,951.84.
• On Wednesday, April 1st, Bruce Lucas sold 8,771 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $157,965.71.
• On Tuesday, March 31st, Bruce Lucas sold 247,008 shares of Slide Insurance stock. The stock was sold at an average price of $18.10, for a total transaction of $4,470,844.80.
• On Thursday, March 26th, Bruce Lucas sold 178,733 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $3,224,343.32.

Slide Insurance Price Performance

SLDE traded down $0.17 on Wednesday, hitting $18.81. The company had a trading volume of 1,038,795 shares, compared to its average volume of 1,647,798. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.34 and a current ratio of 1.34. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The stock has a fifty day simple moving average of $17.99 and a 200-day simple moving average of $17.29.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million during the quarter. On average, sell-side analysts anticipate that Slide Insurance Holdings, Inc. will post 3.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on SLDE shares. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Wall Street Zen lowered shares of Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Piper Sandler lifted their target price 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Slide Insurance in a report on Friday, December 26th. Finally, Barclays lifted their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $24.40.

Hedge Funds Weigh In On Slide Insurance

Several large investors have recently made changes to their positions in the business. Capital World Investors lifted its holdings in shares of Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after purchasing an additional 1,483,180 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Slide Insurance by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after acquiring an additional 354,321 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of Slide Insurance by 27.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after acquiring an additional 380,161 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Slide Insurance during the second quarter valued at approximately $33,063,000. Finally, Freestone Grove Partners LP increased its position in shares of Slide Insurance by 50.3% during the fourth quarter. Freestone Grove Partners LP now owns 986,543 shares of the company’s stock valued at $19,218,000 after acquiring an additional 330,165 shares in the last quarter.

About Slide Insurance

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.