Slide Insurance (NASDAQ:SLDE) Director Beth Witte Bruce Sells 21,063 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Beth Witte Bruce sold 21,063 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $18.70, for a total value of $393,878.10. Following the completion of the sale, the director owned 203,145 shares in the company, valued at $3,798,811.50. The trade was a 9.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Beth Witte Bruce also recently made the following trade(s):

• On Wednesday, May 27th, Beth Witte Bruce sold 23,500 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total value of $446,735.00.
• On Friday, May 22nd, Beth Witte Bruce sold 2,437 shares of Slide Insurance stock. The stock was sold at an average price of $18.70, for a total value of $45,571.90.
• On Friday, February 27th, Beth Witte Bruce sold 25,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.94, for a total value of $473,500.00.

Slide Insurance Stock Performance

Shares of SLDE traded up $0.08 during mid-day trading on Wednesday, reaching $18.69. The company had a trading volume of 1,880,105 shares, compared to its average volume of 1,576,356. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.14 billion and a P/E ratio of 5.19. The stock has a 50 day moving average of $18.31 and a two-hundred day moving average of $17.78.

Slide Insurance (NASDAQ:SLDE) last issued its earnings results on Tuesday, April 28th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.20. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%.The firm had revenue of $389.28 million for the quarter. On average, 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 initiated a share repurchase program on Tuesday, April 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Slide Insurance

A number of hedge funds have recently bought and sold shares of SLDE. Arrowstreet Capital Limited Partnership boosted its position in Slide Insurance by 298.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after purchasing an additional 2,012,428 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Slide Insurance during the second quarter valued at approximately $33,063,000. Capital World Investors raised its holdings in shares of Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after acquiring an additional 1,483,180 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Slide Insurance by 314.8% during 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. Finally, HB Wealth Management LLC raised its holdings in shares of Slide Insurance by 1,375.7% during 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods increased their price target on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, March 9th. Piper Sandler increased 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. Finally, Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Slide Insurance has an average rating of “Moderate Buy” and an average price target of $24.80.

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.