Key Points
- CEO Bruce Lucas sold a total of 1,389,125 shares across multiple trades between March 9 and April 8, generating about $25.2 million; the sales were executed under a pre-arranged Rule 10b5-1 plan and reduced his stake by ~0.30% to 38,016,049 shares (≈$684M).
- Slide Insurance reported a strong quarter (EPS $1.23 vs. $0.87 expected), has a market cap of about $2.25 billion with a P/E of ~7, and recently completed a $120 million share buyback.
- The consensus analyst view is a Buy with an average price target of $24.40, and several firms have recently raised ratings or price objectives.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Paul Larson sold 11,250 shares of Slide Insurance stock in a transaction on Monday, April 6th. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00. Following the completion of the transaction, the insider directly owned 11,250 shares in the company, valued at approximately $202,500. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Matthew Paul Larson also recently made the following trade(s):
- On Monday, March 30th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
- On Tuesday, March 24th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $18.00, for a total transaction of $202,500.00.
- On Tuesday, March 3rd, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The stock was sold at an average price of $19.01, for a total transaction of $213,862.50.
Slide Insurance Stock Up 0.8%
Shares of NASDAQ SLDE opened at $18.10 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 52 week low of $12.53 and a 52 week high of $25.90. The firm's fifty day moving average is $17.71 and its 200 day moving average is $17.04. The company has a market cap of $2.25 billion and a price-to-earnings ratio of 7.02.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its earnings results on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.87 by $0.36. The firm had revenue of $347.01 million during the quarter.
Key Slide Insurance News
Here are the key news stories impacting Slide Insurance this week:
- Positive Sentiment: Company announced completion of a $120 million share buyback, which reduces share count and is typically supportive of EPS and the stock price. Slide Insurance (SLDE) Completes $120 Million Share Buyback
- Positive Sentiment: An analyst write-up (Zacks) highlighted SLDE as one of three mid-cap multi-line insurers with near-term upside potential, which can attract buyers and lift sentiment. Buy 3 Mid-Cap Multi-Line Insurance Stocks to Tap Solid Near-Term Upside
- Positive Sentiment: Recent fundamentals: SLDE reported a solid quarterly beat (Feb 24) with $1.23 EPS vs. $0.87 expected and strong revenue, which supports a higher valuation and investor confidence.
- Neutral Sentiment: Technical/valuation context — market cap roughly $2.25B, P/E ~7, and the stock sits near its 50- and 200-day moving averages; these metrics provide context but are not an immediate catalyst.
- Negative Sentiment: Multiple insider sales: CEO Bruce Lucas, COO Shannon Lucas, a director and another insider executed sizable stock sales April 6–8 (aggregating several hundred thousand shares sold at ~\$18). All trades were reported under pre-arranged Rule 10b5-1 plans (reduces suspicious timing concerns but still can weigh on sentiment when large insiders sell). SEC Filing — Bruce Lucas
Institutional Investors Weigh In On Slide Insurance
Hedge funds have recently made changes to their positions in the company. Comerica Bank boosted its position in shares of Slide Insurance by 3,462.2% during the fourth quarter. Comerica Bank now owns 1,318 shares of the company's stock valued at $26,000 after purchasing an additional 1,281 shares in the last quarter. CWM LLC bought a new stake in shares of Slide Insurance during the fourth quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new stake in shares of Slide Insurance during the third quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Slide Insurance during the fourth quarter valued at approximately $47,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Slide Insurance by 4,839.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,519 shares of the company's stock valued at $49,000 after purchasing an additional 2,468 shares in the last quarter.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Barclays boosted 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. Weiss Ratings reissued a "hold (c-)" rating on shares of Slide Insurance in a research note on Friday, December 26th. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Zacks Research raised Slide Insurance from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 17th. Finally, Keefe, Bruyette & Woods boosted their target price on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Slide Insurance has a consensus rating of "Buy" and an average price target of $24.40.
View Our Latest Stock Analysis on SLDE
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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