Insider Selling: Slide Insurance (NASDAQ:SLDE) Insider Sells 2,500 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) insider Matthew Paul Larson sold 2,500 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $17.79, for a total value of $44,475.00. Following the completion of the sale, the insider directly owned 2,500 shares of the company’s stock, valued at approximately $44,475. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Matthew Paul Larson also recently made the following trade(s):

• On Tuesday, May 26th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.56, for a total value of $208,800.00.
• On Monday, May 18th, Matthew Paul Larson sold 16,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total value of $308,912.50.
• On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.67, for a total value of $210,037.50.
• On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The shares were sold at an average price of $20.02, for a total value of $895,935.04.
• On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $211,162.50.
• On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.39, for a total value of $218,137.50.
• On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total value of $166,250.00.
• On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $180,000.00.
• On Monday, April 6th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $202,500.00.
• On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $202,500.00.

Slide Insurance Trading Down 2.5%

Shares of SLDE stock traded down $0.45 on Tuesday, hitting $17.38. The company had a trading volume of 785,108 shares, compared to its average volume of 1,251,653. The firm has a market cap of $1.99 billion and a P/E ratio of 4.95. The stock’s 50-day moving average is $18.33 and its two-hundred day moving average is $17.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90.

Slide Insurance (NASDAQ:SLDE) last announced its earnings results on Tuesday, April 28th. The company reported $1.02 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. On average, equities 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 has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently commented on SLDE. Texas Capital raised Slide Insurance to a “strong-buy” rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods raised their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, March 9th. 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. Zacks Research cut Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Slide Insurance in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Slide Insurance currently has an average rating of “Moderate Buy” and an average price target of $24.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLDE. Arrowstreet Capital Limited Partnership boosted its holdings in Slide Insurance by 298.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock worth $48,380,000 after acquiring an additional 2,012,428 shares in the last quarter. Raymond James Financial Inc. bought a new position in Slide Insurance in the second quarter worth approximately $33,063,000. Capital World Investors boosted its holdings in Slide Insurance by 49.4% in 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 in the last quarter. Balyasny Asset Management L.P. boosted its holdings in Slide Insurance by 314.8% in the third quarter. Balyasny Asset Management L.P. now owns 1,378,054 shares of the company’s stock worth $21,753,000 after acquiring an additional 1,045,826 shares in the last quarter. Finally, HB Wealth Management LLC boosted its holdings in Slide Insurance by 1,375.7% in the fourth quarter. HB Wealth Management LLC now owns 892,586 shares of the company’s stock worth $17,388,000 after acquiring an additional 832,102 shares in the last quarter.

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.