Axis Wealth Partners LLC Has $3.66 Million Position in Slide Insurance Holdings, Inc. $SLDE

Axis Wealth Partners LLC lifted its holdings in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) by 100.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,502 shares of the company’s stock after purchasing an additional 101,751 shares during the period. Slide Insurance accounts for approximately 1.9% of Axis Wealth Partners LLC’s portfolio, making the stock its 11th biggest holding. Axis Wealth Partners LLC’s holdings in Slide Insurance were worth $3,663,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital World Investors increased its position in Slide Insurance by 49.4% during the third quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after acquiring an additional 1,483,180 shares during the period. Vanguard Group Inc. lifted its stake in shares of Slide Insurance by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock valued at $53,800,000 after buying an additional 354,321 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Slide Insurance by 27.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after buying an additional 380,161 shares during the period. Raymond James Financial Inc. acquired a new stake in Slide Insurance during the second quarter worth about $33,063,000. Finally, Freestone Grove Partners LP grew its position in Slide Insurance by 50.3% during the fourth quarter. Freestone Grove Partners LP now owns 986,543 shares of the company’s stock worth $19,218,000 after buying an additional 330,165 shares in the last quarter.

Insider Activity at Slide Insurance

In other Slide Insurance news, Director Beth Witte Bruce sold 23,500 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $19.01, for a total transaction of $446,735.00. Following the sale, the director owned 179,645 shares of the company’s stock, valued at $3,415,051.45. This represents a 11.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Matthew Paul Larson sold 13,750 shares of the business’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 completion of the transaction, the insider directly owned 8,998 shares of the company’s stock, valued at approximately $153,595.86. This represents a 60.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,523,403 shares of company stock valued at $84,129,443. 50.80% of the stock is currently owned by company insiders.

Slide Insurance Stock Performance

NASDAQ:SLDE opened at $21.25 on Friday. The stock has a market capitalization of $2.43 billion and a P/E ratio of 5.90. The company has a current ratio of 1.33, a quick ratio of 1.33 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 $21.79. The firm has a 50 day moving average of $18.11 and a 200-day moving average of $17.94.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating 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 during the quarter. As a group, sell-side analysts anticipate that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current fiscal year.

Slide Insurance declared that its board has initiated a stock repurchase program on Tuesday, April 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

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