Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) Director Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $18.75, for a total value of $187,500.00. Following the transaction, the director owned 90,086 shares of the company’s stock, valued at $1,689,112.50. This represents a 9.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Andrew Pardo Wright also recently made the following trade(s):
- On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total value of $191,634.00.
- On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total value of $119,372.40.
- On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.75, for a total value of $281,250.00.
Slide Insurance Trading Up 1.1%
Shares of Slide Insurance stock opened at $18.68 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.90. The company has a market capitalization of $2.14 billion and a P/E ratio of 5.19. The business has a 50 day moving average price of $18.21 and a 200 day moving average price of $17.70.
Slide Insurance declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Institutional Trading of Slide Insurance
Institutional investors have recently made changes to their positions in the stock. Comerica Bank grew its stake in shares of Slide Insurance by 3,462.2% during 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 period. CWM LLC purchased a new stake in shares of Slide Insurance during the 4th quarter valued at $35,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Slide Insurance during the 3rd quarter valued at $35,000. State of Wyoming purchased a new stake in shares of Slide Insurance during the 1st quarter valued at $42,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Slide Insurance during the 4th quarter valued at $47,000.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on SLDE shares. Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, March 9th. Barclays boosted their price target on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.80.
Read Our Latest Stock Report on SLDE
Trending Headlines about Slide Insurance
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
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.
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