Key Points
- Insider sale: Director Matthew Paul Larson sold 11,250 shares at an average price of $19.01 on March 3, totaling $213,862.50, a transaction disclosed in an SEC filing.
- Strong quarter but recent dip: Slide reported Q4 EPS of $1.23 vs. $0.87 expected and $347.0M in revenue, yet the stock traded down 3.3% to $18.82 and still trades at a low PE of 7.29 with a $2.34B market cap.
- Analysts and institutions bullish: Multiple brokers raised targets and issued overweight/outperform ratings (consensus target $24.20), while large institutions including American Century, Raymond James and Capital World Investors have added meaningful positions.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Stephen Rohde sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $19.50, for a total value of $97,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Slide Insurance Stock Down 4.9%
SLDE traded down $0.95 during trading on Friday, hitting $18.52. 1,081,666 shares of the company's stock traded hands, compared to its average volume of 1,254,700. The stock has a market capitalization of $2.30 billion and a price-to-earnings ratio of 7.18. The company's 50 day simple moving average is $17.61 and its two-hundred day simple moving average is $16.38. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.03.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.36. The business had revenue of $347.01 million for the quarter.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of SLDE. Great Lakes Advisors LLC purchased a new position in Slide Insurance during the 3rd quarter valued at $3,113,000. American Century Companies Inc. purchased a new stake in shares of Slide Insurance during the second quarter valued at $56,229,000. HB Wealth Management LLC bought a new position in shares of Slide Insurance in the third quarter worth about $955,000. Federated Hermes Inc. bought a new stake in Slide Insurance during the 3rd quarter valued at about $9,471,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Slide Insurance in the second quarter valued at approximately $4,245,000.
Analyst Ratings Changes
Several analysts recently issued reports on SLDE shares. Barclays lifted their target price on Slide Insurance from $25.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Morgan Stanley boosted their target price on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an "overweight" rating in a report on Monday, November 17th. Keefe, Bruyette & Woods raised their target price on shares of Slide Insurance from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Slide Insurance in a research note on Friday, December 26th. Finally, Zacks Research lowered Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 16th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.20.
Read Our Latest Stock Report on Slide Insurance
About Slide Insurance
(
Get Free Report)
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.
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