Andrew Pardo Wright Sells 15,000 Shares of Slide Insurance (NASDAQ:SLDE) Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 15,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.51, for a total transaction of $292,650.00. Following the sale, the director directly owned 18,998 shares of the company’s stock, valued at $370,650.98. This represents a 44.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Andrew Pardo Wright also recently made the following trade(s):

• On Friday, June 26th, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $19.03, for a total transaction of $285,450.00.
• On Wednesday, June 24th, Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $558,346.02.
• On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The stock was sold at an average price of $19.00, for a total transaction of $191,634.00.
• On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $187,500.00.
• On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The shares were sold at an average price of $18.90, for a total transaction of $119,372.40.
• On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $281,250.00.

Slide Insurance Stock Up 6.3%

NASDAQ SLDE opened at $21.25 on Friday. The business has a fifty day moving average price of $18.11 and a two-hundred day moving average price of $17.94. The stock has a market capitalization of $2.43 billion and a PE ratio of 5.90. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $21.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33.

Slide Insurance (NASDAQ:SLDE) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating 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 company had revenue of $389.28 million for the quarter. Equities analysts expect that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

SLDE has been the subject of a number of research reports. Barclays increased their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, March 9th. Texas Capital upgraded shares of Slide Insurance to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. One 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.80.

Institutional Trading of Slide Insurance

Several institutional investors have recently modified their holdings of the business. Comerica Bank increased its holdings in 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 purchasing an additional 1,281 shares during the period. CWM LLC bought a new stake in shares of Slide Insurance in the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Slide Insurance in the third quarter valued at about $35,000. State of Wyoming bought a new position in shares of Slide Insurance during the first quarter worth about $42,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Slide Insurance during the fourth quarter worth about $47,000.

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.