Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells $105,000.00 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDEGet Free Report) Director Stephen Rohde sold 5,000 shares of Slide Insurance stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 5,000 shares of the company’s stock, valued at approximately $105,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Slide Insurance Stock Performance

SLDE traded down $0.47 during mid-day trading on Monday, reaching $20.66. 671,236 shares of the company traded hands, compared to its average volume of 1,089,536. The stock has a market capitalization of $2.41 billion, a P/E ratio of 5.15 and a beta of -0.04. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $19.28 and its 200-day moving average price is $18.40. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $23.00.

Slide Insurance (NASDAQ:SLDEGet Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.18. The firm had revenue of $386.82 million for the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. On average, sell-side analysts expect that Slide Insurance Holdings, Inc. will post 3.91 EPS for the current year.

Slide Insurance announced that its board has initiated a share buyback plan on Tuesday, April 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Slide Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 14th.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLDE. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a report on Monday, August 3rd. Citizens Jmp upped their target price on shares of Slide Insurance from $25.00 to $27.00 and gave the company a “market outperform” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Citigroup reissued an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Slide Insurance has an average rating of “Buy” and an average price target of $25.40.

Get Our Latest Stock Report on SLDE

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC bought a new position in shares of Slide Insurance during the 2nd quarter valued at approximately $2,815,000. Meeder Asset Management Inc. bought a new stake in Slide Insurance during the 2nd quarter worth approximately $40,000. BlackRock Inc. bought a new stake in Slide Insurance during the 2nd quarter worth approximately $98,538,000. Deutsche Bank AG purchased a new position in Slide Insurance during the second quarter valued at approximately $1,252,000. Finally, Global Retirement Partners LLC purchased a new position in Slide Insurance during the second quarter valued at approximately $39,000.

About Slide Insurance

(Get Free Report)

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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Insider Buying and Selling by Quarter for Slide Insurance (NASDAQ:SLDE)

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