Quantbot Technologies LP Buys Shares of 105,713 Slide Insurance Holdings, Inc. $SLDE

Quantbot Technologies LP bought a new position in Slide Insurance Holdings, Inc. (NASDAQ:SLDE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 105,713 shares of the company’s stock, valued at approximately $2,048,000.

Several other hedge funds also recently modified their holdings of the business. Fifth Third Bancorp lifted its stake in shares of Slide Insurance by 529,826.4% in the 4th quarter. Fifth Third Bancorp now owns 381,547 shares of the company’s stock valued at $7,433,000 after purchasing an additional 381,475 shares during the last quarter. World Investment Advisors acquired a new position in Slide Insurance during the fourth quarter worth $1,964,000. Axis Wealth Partners LLC increased its position in Slide Insurance by 100.0% during the first quarter. Axis Wealth Partners LLC now owns 203,502 shares of the company’s stock worth $3,663,000 after buying an additional 101,751 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Slide Insurance by 24.9% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 459,820 shares of the company’s stock valued at $8,277,000 after buying an additional 91,610 shares in the last quarter. Finally, Blackhawk Capital Partners LLC bought a new position in Slide Insurance during the fourth quarter valued at about $1,820,000.

Slide Insurance Stock Up 4.0%

SLDE stock opened at $23.64 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.23 and a quick ratio of 1.23. Slide Insurance Holdings, Inc. has a 52-week low of $12.53 and a 52-week high of $23.75. The company has a 50-day moving average of $20.34 and a two-hundred day moving average of $18.80. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 5.77 and a beta of -0.04.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.18. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%.The business had revenue of $386.82 million for the quarter. As a group, equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current year.

Slide Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.2%. Slide Insurance’s dividend payout ratio (DPR) is 6.83%.

Slide Insurance announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Citizens Jmp upped their price target on Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Slide Insurance in a report on Monday, August 3rd. Keefe, Bruyette & Woods upped their target price on Slide Insurance from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of Slide Insurance from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Slide Insurance has a consensus rating of “Buy” and a consensus target price of $25.40.

Insiders Place Their Bets

In other news, Director Andrew Pardo Wright sold 15,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $19.51, for a total value of $292,650.00. Following the completion of the sale, the director directly owned 18,998 shares of the company’s stock, valued at approximately $370,650.98. This represents a 44.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bruce Lucas sold 44,467 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $17.12, for a total transaction of $761,275.04. Following the completion of the sale, the chief executive officer owned 34,506,199 shares in the company, valued at approximately $590,746,126.88. The trade was a 0.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 768,226 shares of company stock worth $14,260,274. Corporate insiders own 50.80% of the company’s stock.

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.