Key Points
- CEO Bruce Lucas sold 178,733 shares on March 26 at an average price of $18.04 for $3.22M, and executed multiple other March sales totaling about 1.04 million shares (~$19.2M); after the March 26 trade he still held 38,657,781 shares valued at about $697.4M (the March 26 sale reduced his stake by 0.46%).
- Slide Insurance shares opened at $17.56 (down 2.6%), the company reported a quarterly EPS beat ($1.23 vs. $0.87) and analysts have an average rating of Buy with an average target price of $24.40; the stock has a market cap of $2.18B and a P/E of 6.81.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) CEO Bruce Lucas sold 178,733 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $18.04, for a total transaction of $3,224,343.32. Following the completion of the transaction, the chief executive officer owned 38,657,781 shares in the company, valued at $697,386,369.24. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Bruce Lucas also recently made the following trade(s):
- On Tuesday, March 17th, Bruce Lucas sold 98,716 shares of Slide Insurance stock. The stock was sold at an average price of $18.44, for a total transaction of $1,820,323.04.
- On Monday, March 16th, Bruce Lucas sold 227,500 shares of Slide Insurance stock. The shares were sold at an average price of $18.13, for a total transaction of $4,124,575.00.
- On Wednesday, March 11th, Bruce Lucas sold 2,730 shares of Slide Insurance stock. The shares were sold at an average price of $17.42, for a total transaction of $47,556.60.
- On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total transaction of $2,156,609.00.
- On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The stock was sold at an average price of $18.59, for a total transaction of $4,489,354.87.
- On Thursday, March 5th, Bruce Lucas sold 172,644 shares of Slide Insurance stock. The shares were sold at an average price of $19.37, for a total transaction of $3,344,114.28.
Slide Insurance Trading Down 2.6%
NASDAQ:SLDE opened at $17.56 on Friday. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90. The business has a fifty day moving average price of $17.40 and a 200-day moving average price of $16.81. The firm has a market capitalization of $2.18 billion and a price-to-earnings ratio of 6.81. 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 (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, beating the consensus estimate of $0.87 by $0.36. The company had revenue of $347.01 million for the quarter.
Hedge Funds Weigh In On Slide Insurance
Institutional investors have recently bought and sold shares of the stock. Comerica Bank increased its holdings in Slide Insurance by 3,462.2% in the 4th quarter. Comerica Bank now owns 1,318 shares of the company's stock valued at $26,000 after acquiring an additional 1,281 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Slide Insurance by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company's stock valued at $313,000 after purchasing an additional 1,704 shares during the last quarter. CWM LLC bought a new position in shares of Slide Insurance during the 4th quarter valued at about $35,000. Ameritas Investment Partners Inc. purchased a new position in shares of Slide Insurance during the third quarter valued at about $35,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Slide Insurance in the fourth quarter worth about $47,000.
Analyst Ratings Changes
A number of brokerages recently issued reports on SLDE. Keefe, Bruyette & Woods boosted their price objective on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, March 9th. Weiss Ratings restated a "hold (c-)" rating on shares of Slide Insurance in a research note on Friday, December 26th. Texas Capital raised shares of Slide Insurance to a "strong-buy" rating in a report on Wednesday, March 18th. Zacks Research upgraded shares of Slide Insurance from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, March 17th. Finally, Barclays increased their price objective on shares of Slide Insurance from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $24.40.
Check Out Our Latest Stock Report on Slide Insurance
Slide Insurance Company Profile
(
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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