Slide Insurance (NASDAQ:SLDE) CEO Bruce Lucas Sells 227,500 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 227,500 shares of Slide Insurance stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $18.13, for a total transaction of $4,124,575.00. Following the completion of the sale, the chief executive officer directly owned 38,994,033 shares in the company, valued at $706,961,818.29. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The shares were sold at an average price of $18.44, for a total value of $1,820,323.04.
• On Wednesday, March 11th, Bruce Lucas sold 2,730 shares of Slide Insurance stock. The stock was sold at an average price of $17.42, for a total value of $47,556.60.
• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total transaction of $4,489,354.87.
• On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total transaction of $3,344,114.28.

Slide Insurance Trading Down 2.7%

Shares of SLDE traded down $0.49 during trading hours on Wednesday, hitting $17.75. The company’s stock had a trading volume of 2,532,975 shares, compared to its average volume of 2,236,213. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick 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 business has a 50 day simple moving average of $17.38 and a two-hundred day simple moving average of $16.63.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLDE shares. Barclays boosted their price target on shares of Slide Insurance from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research note on Friday, December 26th. Keefe, Bruyette & Woods raised their price target on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Finally, Piper Sandler increased their price objective on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Slide Insurance presently has an average rating of “Moderate Buy” and an average price target of $24.40.

Hedge Funds Weigh In On Slide Insurance

A number of large investors have recently added to or reduced their stakes in the business. Capital World Investors lifted its stake in Slide Insurance by 49.4% in the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after purchasing an additional 1,483,180 shares during the last quarter. Vanguard Group Inc. grew its stake 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 buying an additional 354,321 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Slide Insurance in the second quarter worth about $56,229,000. Balyasny Asset Management L.P. lifted its stake in shares of Slide Insurance by 27.6% in the 4th 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Slide Insurance in the 2nd quarter valued at about $33,063,000.

Slide Insurance Company Profile

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.