Slide Insurance Holdings, Inc. (NASDAQ:SLDE – Get Free Report) Director Robert Gries, Jr. sold 61,762 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $24.28, for a total value of $1,499,581.36. Following the completion of the sale, the director directly owned 1,523,449 shares in the company, valued at approximately $36,989,341.72. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Slide Insurance Stock Down 1.1%
Slide Insurance stock traded down $0.26 on Thursday, hitting $24.45. 1,087,325 shares of the stock traded hands, compared to its average volume of 1,436,437. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $25.09. The firm has a market cap of $2.86 billion, a P/E ratio of 5.96 and a beta of 0.07. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $21.77 and its 200 day simple moving average is $19.38.
Slide Insurance (NASDAQ:SLDE – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $1.06 earnings per share 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 net margin of 40.02% and a return on equity of 50.69%. As a group, sell-side analysts forecast that Slide Insurance Holdings, Inc. will post 3.79 earnings per share for the current year.
Slide Insurance Announces Dividend
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in SLDE. Comerica Bank grew 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 buying an additional 1,281 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Slide Insurance in the 2nd quarter worth approximately $39,000. Meeder Asset Management Inc. purchased a new position in Slide Insurance in the 2nd quarter worth approximately $40,000. Ameritas Investment Partners Inc. bought a new position in Slide Insurance in the 3rd quarter valued at approximately $35,000. Finally, State of Wyoming purchased a new stake in Slide Insurance during the 1st quarter valued at $42,000.
Analyst Ratings Changes
A number of analysts have recently commented on SLDE shares. Keefe, Bruyette & Woods boosted their price target on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings raised Slide Insurance from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th. Zacks Research upgraded Slide Insurance from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Citizens Jmp boosted their target price on Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Finally, Barclays increased their target price on Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $25.40.
Get Our Latest Analysis 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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