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

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Andrew Pardo Wright sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $19.51, for a total value of $292,650.00. Following the transaction, the director directly owned 18,998 shares in the company, valued at approximately $370,650.98. This represents a 44.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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 value 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 stock was 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 value 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 value of $281,250.00.

Slide Insurance Stock Up 3.2%

NASDAQ:SLDE opened at $19.99 on Thursday. The company’s 50-day simple moving average is $18.06 and its 200-day simple moving average is $17.92. 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 fifty-two week low of $12.53 and a fifty-two week high of $21.02. The stock has a market capitalization of $2.29 billion and a P/E ratio of 5.55.

Slide Insurance (NASDAQ:SLDE) last announced its 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. The company had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. On average, equities 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 plan on Tuesday, April 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Slide Insurance

Hedge funds and other institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Slide Insurance by 298.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,687,802 shares of the company’s stock valued at $48,380,000 after purchasing an additional 2,012,428 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Slide Insurance during the second quarter worth $33,063,000. Capital World Investors grew its holdings in Slide Insurance by 49.4% in the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock valued at $70,767,000 after buying an additional 1,483,180 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Slide Insurance by 314.8% in the 3rd 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 during the last quarter. Finally, HB Wealth Management LLC increased its stake in shares of Slide Insurance by 1,375.7% in the 4th 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 during the last quarter.

Wall Street Analyst Weigh In

SLDE has been the topic of a number of analyst reports. Barclays raised their price objective on shares of Slide Insurance from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Slide Insurance from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, March 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Slide Insurance in a research report on Wednesday, May 6th. Finally, Zacks Research lowered shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. One equities 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.