Insider Selling: Slide Insurance (NASDAQ:SLDE) COO Sells 11,676 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 11,676 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $19.55, for a total transaction of $228,265.80. Following the completion of the transaction, the chief operating officer directly owned 1,370,898 shares of the company’s stock, valued at $26,801,055.90. This trade represents a 0.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 14th, Shannon Lucas sold 18,874 shares of Slide Insurance stock. The stock was sold at an average price of $18.04, for a total transaction of $340,486.96.
• On Monday, April 13th, Shannon Lucas sold 25,621 shares of Slide Insurance stock. The stock was sold at an average price of $18.05, for a total transaction of $462,459.05.
• On Thursday, April 9th, Shannon Lucas sold 27,069 shares of Slide Insurance stock. The stock was sold at an average price of $18.11, for a total transaction of $490,219.59.
• On Wednesday, April 8th, Shannon Lucas sold 12,008 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $216,264.08.
• On Tuesday, April 7th, Shannon Lucas sold 11,283 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total value of $203,094.00.
• On Monday, April 6th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total value of $244,215.00.
• On Monday, March 30th, Shannon Lucas sold 13,389 shares of Slide Insurance stock. The stock was sold at an average price of $18.09, for a total value of $242,207.01.
• On Wednesday, April 1st, Shannon Lucas sold 868 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total value of $15,632.68.
• On Tuesday, March 31st, Shannon Lucas sold 24,429 shares of Slide Insurance stock. The stock was sold at an average price of $18.10, for a total value of $442,164.90.
• On Tuesday, March 17th, Shannon Lucas sold 9,763 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total value of $180,029.72.

Slide Insurance Stock Down 0.9%

Shares of SLDE stock traded down $0.17 during trading hours on Wednesday, reaching $18.81. 1,038,795 shares of the company’s stock were exchanged, compared to its average volume of 1,647,798. The stock’s 50 day moving average is $17.99 and its 200-day moving average is $17.29. The company has a market cap of $2.34 billion and a price-to-earnings ratio of 7.29. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.36. The business had revenue of $347.01 million for the quarter. Analysts predict that Slide Insurance Holdings, Inc. will post 3.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Slide Insurance

Several hedge funds have recently made changes to their positions in SLDE. Comerica Bank increased its position in shares of Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after acquiring an additional 1,281 shares during the period. CWM LLC acquired a new position in shares of Slide Insurance in the 4th quarter valued at $35,000. Ameritas Investment Partners Inc. purchased a new stake in Slide Insurance in the third quarter valued at $35,000. Aster Capital Management DIFC Ltd purchased a new stake in Slide Insurance in the fourth quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company’s stock valued at $49,000 after purchasing an additional 2,468 shares during the last quarter.

Analyst Upgrades and Downgrades

SLDE has been the topic of a number of recent analyst reports. Piper Sandler upped their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Wall Street Zen downgraded Slide Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Keefe, Bruyette & Woods upped their target price on Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $24.40.

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.