Blackhawk Capital Partners LLC Acquires Shares of 93,451 Slide Insurance Holdings, Inc. $SLDE

Blackhawk Capital Partners LLC purchased a new position in shares of Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 93,451 shares of the company’s stock, valued at approximately $1,820,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio grew its stake in shares of Slide Insurance by 579.6% during the 4th quarter. Strs Ohio now owns 33,300 shares of the company’s stock worth $649,000 after acquiring an additional 28,400 shares during the period. Fifth Third Bancorp grew its stake in shares of Slide Insurance by 529,826.4% during the 4th quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock worth $7,433,000 after acquiring an additional 381,475 shares during the period. KTF Investments LLC bought a new position in shares of Slide Insurance during the 4th quarter worth $1,310,000. Axis Wealth Partners LLC bought a new position in shares of Slide Insurance during the 4th quarter worth $1,982,000. Finally, Certuity LLC bought a new position in shares of Slide Insurance during the 4th quarter worth $1,553,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research downgraded Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays increased their price target on Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. 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 note on Monday, March 9th. Texas Capital upgraded Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Piper Sandler raised their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Slide Insurance currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.

Slide Insurance Stock Up 0.5%

Shares of NASDAQ SLDE opened at $18.56 on Tuesday. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90. The business has a 50-day simple moving average of $18.25 and a two-hundred day simple moving average of $17.55. 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 company has a market cap of $2.13 billion and a P/E ratio of 5.16.

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

Slide Insurance announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Key Headlines Impacting Slide Insurance

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

• Negative Sentiment: CEO Bruce Lucas sold 91,000 shares at an average price of $18.76, trimming his stake by 0.25%. Large CEO selling can weigh on investor sentiment because it may signal limited near-term upside. SEC filing
• Negative Sentiment: Bruce Lucas also sold 173,317 shares earlier in the week at $18.81, adding to the impression that top executives are reducing exposure after the stock’s recent run. SEC filing
• Negative Sentiment: COO Shannon Lucas sold 9,000 shares at $18.76 and separately sold 17,141 shares at $18.81, while director Andrew Pardo Wright sold 6,316 shares at $18.90. Multiple insider sales in a short period can pressure sentiment, even if the amounts are relatively small versus the company’s ownership base. SEC filing
• Neutral Sentiment: Short interest was reported at 0 shares, so there is no meaningful bearish short positioning data to point to right now. Related article

Insider Buying and Selling

In other Slide Insurance news, CEO Bruce Lucas sold 273,702 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $18.11, for a total value of $4,956,743.22. Following the completion of the transaction, the chief executive officer owned 37,620,933 shares in the company, valued at $681,315,096.63. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 4,180,678 shares of company stock valued at $77,257,003. 50.80% of the stock is owned by company insiders.

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.