Slide Insurance (NASDAQ:SLDE) COO Shannon Lucas Sells 18,279 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) COO Shannon Lucas sold 18,279 shares of Slide Insurance stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $18.78, for a total value of $343,279.62. Following the sale, the chief operating officer directly owned 1,165,021 shares of the company’s stock, valued at approximately $21,879,094.38. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, May 19th, Shannon Lucas sold 27,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.97, for a total value of $512,190.00.
• On Monday, May 18th, Shannon Lucas sold 45,000 shares of Slide Insurance stock. The stock was sold at an average price of $19.06, for a total value of $857,700.00.
• On Friday, May 15th, Shannon Lucas sold 26,692 shares of Slide Insurance stock. The stock was sold at an average price of $18.84, for a total value of $502,877.28.
• On Monday, May 11th, Shannon Lucas sold 9,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.76, for a total value of $168,840.00.
• On Thursday, May 7th, Shannon Lucas sold 17,141 shares of Slide Insurance stock. The stock was sold at an average price of $18.81, for a total value of $322,422.21.
• On Monday, May 4th, Shannon Lucas sold 6,647 shares of Slide Insurance stock. The stock was sold at an average price of $18.88, for a total value of $125,495.36.
• On Friday, May 1st, Shannon Lucas sold 8,450 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total value of $158,606.50.
• On Wednesday, April 29th, Shannon Lucas sold 18,917 shares of Slide Insurance stock. The shares were sold at an average price of $19.24, for a total value of $363,963.08.
• On Tuesday, April 28th, Shannon Lucas sold 15,251 shares of Slide Insurance stock. The shares were sold at an average price of $18.94, for a total value of $288,853.94.
• On Monday, April 27th, Shannon Lucas sold 13,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $253,125.00.

Slide Insurance Stock Up 0.1%

Slide Insurance stock opened at $18.63 on Friday. The company has a market cap of $2.13 billion and a PE ratio of 5.18. The business’s 50-day simple moving average is $18.25 and its two-hundred day simple moving average is $17.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. 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 data on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.20. The business had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Equities analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Barclays increased their price objective on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

Institutional Trading of Slide Insurance

Several hedge funds have recently modified their holdings of SLDE. Geode Capital Management LLC acquired a new stake in shares of Slide Insurance in the second quarter valued at $2,245,000. Legal & General Group Plc purchased a new position in shares of Slide Insurance during the second quarter worth about $216,000. Norges Bank purchased a new position in shares of Slide Insurance during the second quarter worth about $866,000. Marshall Wace LLP purchased a new position in shares of Slide Insurance during the second quarter worth about $1,056,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Slide Insurance during the second quarter worth about $834,000.

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.