World Investment Advisors Takes $1.96 Million Position in Slide Insurance Holdings, Inc. $SLDE

World Investment Advisors bought a new stake in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the fourth quarter, Holdings Channel reports. The institutional investor bought 100,837 shares of the company’s stock, valued at approximately $1,964,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Comerica Bank raised its holdings in shares of Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company’s stock valued at $26,000 after buying an additional 1,281 shares during the last quarter. CWM LLC purchased a new stake in shares of Slide Insurance in the fourth quarter valued at about $35,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Slide Insurance in the third quarter valued at about $35,000. Strs Ohio purchased a new stake in shares of Slide Insurance in the third quarter valued at about $77,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Slide Insurance in the third quarter valued at about $111,000.

Insider Transactions at Slide Insurance

In related news, CEO Bruce Lucas sold 273,702 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $18.11, for a total transaction of $4,956,743.22. Following the completion of the transaction, the chief executive officer directly owned 37,620,933 shares of the company’s stock, valued at $681,315,096.63. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 4,196,928 shares of company stock worth $77,562,040 over the last three months. Corporate insiders own 50.80% of the company’s stock.

Slide Insurance Trading Up 0.9%

NASDAQ SLDE opened at $18.80 on Friday. The stock has a market capitalization of $2.15 billion and a P/E ratio of 5.22. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $25.90. The firm has a 50-day moving average price of $18.20 and a 200 day moving average price of $17.62. 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 (NASDAQ:SLDE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 expect 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 share buyback plan on Tuesday, April 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SLDE shares. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Texas Capital raised shares of Slide Insurance to a “strong-buy” rating in a report on Wednesday, March 18th. Piper Sandler upped their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Slide Insurance in a report on Wednesday, May 6th. Finally, Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.80.

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.