Flaharty Asset Management LLC Purchases Shares of 53,931 Slide Insurance Holdings, Inc. $SLDE

Flaharty Asset Management LLC acquired a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 53,931 shares of the company’s stock, valued at approximately $1,051,000.

Several other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Slide Insurance in the 2nd quarter valued at $33,063,000. Capital World Investors raised its stake in Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after acquiring an additional 1,483,180 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Slide Insurance by 314.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock valued at $21,753,000 after acquiring an additional 1,045,826 shares during the last quarter. HB Wealth Management LLC lifted its position in Slide Insurance by 1,375.7% in the fourth quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock valued at $17,388,000 after acquiring an additional 832,102 shares during the last quarter. Finally, Federated Hermes Inc. acquired a new position in Slide Insurance in the third quarter valued at $9,471,000.

Insider Buying and Selling

In other Slide Insurance news, COO Shannon Lucas sold 27,000 shares of Slide Insurance stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $18.97, for a total value of $512,190.00. Following the transaction, the chief operating officer directly owned 1,183,300 shares in the company, valued at approximately $22,447,201. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Paul Larson sold 16,250 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.01, for a total value of $308,912.50. Following the completion of the transaction, the insider directly owned 16,250 shares in the company, valued at approximately $308,912.50. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,329,837 shares of company stock valued at $99,058,522 over the last 90 days. Insiders own 50.80% of the company’s stock.

Analysts Set New Price Targets

SLDE has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Piper Sandler raised their price target on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Barclays increased their price objective on Slide Insurance from $29.00 to $31.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Slide Insurance has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Slide Insurance Trading Up 1.1%

NASDAQ SLDE opened at $18.68 on Thursday. The firm’s fifty day moving average is $18.21 and its two-hundred day moving average is $17.70. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $2.14 billion and a PE ratio of 5.19.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.20. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. The business had revenue of $389.28 million during the quarter. Analysts expect that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.

Slide Insurance declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

More Slide Insurance News

Here are the key news stories impacting Slide Insurance this week:

• Positive Sentiment: Slide Insurance said it will take on 86,000 Farmers home insurance policies in Florida, a move that could expand its book of business and support premium growth. Article Title
• Neutral Sentiment: The company also continues to draw attention after a strong quarterly earnings beat and a recently authorized $100 million share repurchase program, both of which can help underpin investor confidence.
• Neutral Sentiment: Analysts remain generally constructive, with a consensus “Moderate Buy” rating and an average target price of $24.80.
• Negative Sentiment: Multiple insiders sold shares over May 15-19, including CEO Bruce Lucas, COO Shannon Lucas, director Andrew Pardo Wright, and insider Matthew Paul Larson, which may be weighing on sentiment because investors often read clustered insider sales as a sign of limited near-term upside. Article Title Article Title Article Title Article Title

Slide Insurance 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.