Key Points
- CEO Bruce Lucas sold a total of 535,167 Slide Insurance shares across March 5–11 for roughly $10.04 million, filings show, leaving him with 39,221,533 shares (a 0.01% reduction in ownership).
- Slide Insurance shares rose 2.7% to $17.74 after the company topped Q4 EPS estimates ($1.23 vs. $0.87); the stock has a market cap of about $2.20 billion and a consensus analyst rating of Moderate Buy with a $24.40 target.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CEO Bruce Lucas sold 2,730 shares of the firm's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $17.42, for a total value of $47,556.60. Following the sale, the chief executive officer directly owned 39,221,533 shares of the company's stock, valued at approximately $683,239,104.86. This represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Bruce Lucas also recently made the following trade(s):
- On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The shares were sold at an average price of $18.23, for a total value of $2,156,609.00.
- On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87.
- On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The stock was sold at an average price of $19.37, for a total value of $3,344,114.28.
Slide Insurance Trading Up 2.7%
NASDAQ SLDE traded up $0.47 on Friday, hitting $17.74. 1,163,787 shares of the company were exchanged, compared to its average volume of 1,376,693. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.34 and a quick ratio of 1.34. Slide Insurance Holdings, Inc. has a twelve month low of $12.53 and a twelve month high of $25.90. The firm has a market capitalization of $2.20 billion and a P/E ratio of 6.88. The company's 50 day moving average price is $17.43 and its 200-day moving average price is $16.49.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.
Analyst Upgrades and Downgrades
A number of brokerages have commented on SLDE. Barclays raised their price objective on Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 25th. Morgan Stanley raised their price target 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. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Slide Insurance in a research report on Friday, December 26th. Piper Sandler upped their price objective on shares of Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Finally, Zacks Research lowered shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 16th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $24.40.
Read Our Latest Analysis on Slide Insurance
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in SLDE. Comerica Bank grew its stake in Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company's stock worth $26,000 after buying an additional 1,281 shares during the last quarter. CWM LLC bought a new stake in Slide Insurance during the 4th quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance during the 3rd quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance during the 4th quarter valued at $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Slide Insurance by 4,839.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock worth $49,000 after purchasing an additional 2,468 shares in the last quarter.
Slide Insurance Company Profile
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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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