Insider Selling: Slide Insurance (NASDAQ:SLDE) Director Sells 5,000 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Stephen Rohde sold 5,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $19.50, for a total transaction of $97,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Slide Insurance Trading Up 0.3%

Slide Insurance stock traded up $0.06 during trading on Thursday, hitting $19.47. The company had a trading volume of 1,754,134 shares, compared to its average volume of 1,548,110. The stock has a market cap of $2.42 billion and a price-to-earnings ratio of 14.42. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 1-year low of $12.53 and a 1-year high of $25.90. The company’s 50 day simple moving average is $17.61 and its 200-day simple moving average is $16.38.

Slide Insurance (NASDAQ:SLDE) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million during the quarter.

Institutional Trading of Slide Insurance

A number of institutional investors and hedge funds have recently made changes to their positions in SLDE. Capital World Investors grew 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 buying an additional 1,483,180 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Slide Insurance by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after acquiring an additional 354,321 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Slide Insurance in the 2nd quarter worth about $56,229,000. Balyasny Asset Management L.P. lifted its position in Slide Insurance by 27.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after purchasing an additional 380,161 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Slide Insurance during the 2nd quarter valued at about $33,063,000.

Analysts Set New Price Targets

SLDE has been the topic of a number of recent research reports. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Morgan Stanley upped their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Zacks Research lowered Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Keefe, Bruyette & Woods upped their target price on Slide Insurance from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Barclays increased their target price on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Slide Insurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.20.

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.