Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) insider Matthew Paul Larson sold 13,750 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $17.07, for a total value of $234,712.50. Following the completion of the transaction, the insider owned 8,998 shares of the company’s stock, valued at $153,595.86. This trade represents a 60.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Matthew Paul Larson also recently made the following trade(s):
- On Monday, June 1st, Matthew Paul Larson sold 2,500 shares of Slide Insurance stock. The stock was sold at an average price of $17.79, for a total value of $44,475.00.
- On Tuesday, May 26th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.56, for a total value of $208,800.00.
- On Monday, May 18th, Matthew Paul Larson sold 16,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total value of $308,912.50.
- On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.67, for a total value of $210,037.50.
- On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The stock was sold at an average price of $20.02, for a total value of $895,935.04.
- On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $211,162.50.
- On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.39, for a total value of $218,137.50.
- On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total value of $166,250.00.
- On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $180,000.00.
- On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $202,500.00.
Slide Insurance Price Performance
Shares of SLDE opened at $16.70 on Monday. The business’s 50-day moving average is $18.17 and its two-hundred day moving average is $17.83. The company has a market capitalization of $1.91 billion and a P/E 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. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90.
Slide Insurance declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Key Stories Impacting Slide Insurance
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.
Institutional Investors Weigh In On Slide Insurance
Institutional investors have recently bought and sold shares of the company. Comerica Bank boosted its holdings in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock worth $26,000 after buying an additional 1,281 shares during the last quarter. CWM LLC acquired a new stake in Slide Insurance in the 4th quarter worth about $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance in the 3rd quarter worth about $35,000. State of Wyoming acquired a new stake in Slide Insurance in the 1st quarter worth about $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance in the 4th quarter worth about $47,000.
Analysts Set New Price Targets
SLDE has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods lifted their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Barclays lifted their price target on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler lifted their price target on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.80.
View Our Latest Stock Report on Slide Insurance
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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