Slide Insurance (NASDAQ:SLDE) Insider Matthew Paul Larson Sells 13,750 Shares

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 13,750 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $17.07, for a total transaction of $234,712.50. Following the sale, the insider directly owned 8,998 shares of the company’s stock, valued at $153,595.86. This represents a 60.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Matthew Paul Larson also recently made the following trade(s):

• On Monday, June 1st, Matthew Paul Larson sold 2,500 shares of Slide Insurance stock. The stock was sold at an average price of $17.79, for a total transaction of $44,475.00.
• On Tuesday, May 26th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.56, for a total transaction of $208,800.00.
• On Monday, May 18th, Matthew Paul Larson sold 16,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total transaction of $308,912.50.
• On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.67, for a total transaction of $210,037.50.
• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The stock was sold at an average price of $20.02, for a total transaction of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.77, for a total transaction of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.39, for a total transaction of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total transaction of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.

Slide Insurance Price Performance

Shares of SLDE stock traded down $0.24 on Friday, reaching $16.70. The company had a trading volume of 582,241 shares, compared to its average volume of 1,569,967. The stock has a market capitalization of $1.91 billion and a PE ratio of 4.64. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The business’s 50-day moving average is $18.19 and its 200 day moving average is $17.83.

Slide Insurance (NASDAQ:SLDE) last posted 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. The firm had revenue of $389.28 million during the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. Equities research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance declared that its board has approved a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen raised Slide Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. One equities 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLDE. Geode Capital Management LLC acquired a new position in shares of Slide Insurance in the second quarter valued at approximately $2,245,000. Legal & General Group Plc acquired a new stake in Slide Insurance during the 2nd quarter valued at approximately $216,000. Norges Bank acquired a new stake in Slide Insurance during the 2nd quarter valued at approximately $866,000. Marshall Wace LLP acquired a new stake in Slide Insurance during the 2nd quarter valued at approximately $1,056,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Slide Insurance during the 2nd quarter valued at approximately $834,000.

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.