Key Points
- Director Robert Gries Jr. sold 28,212 shares on May 5 at an average price of $18.55 for $523,332.60, a 1.47% reduction in his stake leaving him with 1,890,205 shares (≈$35.06M).
- Slide reported strong Q1 results with EPS of $1.02 versus $0.82 expected and revenue of $389.3M, showing high profitability (ROE 48.38%, net margin 38.86%) while trading at a P/E of 5.24 and a $2.16B market cap.
- The board authorized a $100 million buyback (about 4.3% of shares), and analysts maintain a consensus "Moderate Buy" rating with a $24.80 price target after recent rating changes.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Robert Gries, Jr. sold 28,212 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $18.55, for a total value of $523,332.60. Following the sale, the director owned 1,890,205 shares of the company's stock, valued at approximately $35,063,302.75. The trade was a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Slide Insurance Price Performance
SLDE stock opened at $18.87 on Friday. The business has a 50 day moving average price of $18.29 and a 200 day moving average price of $17.50. The stock has a market cap of $2.16 billion and a price-to-earnings ratio of 5.24. Slide Insurance Holdings, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $25.90. The company has a quick ratio of 1.34, a current ratio of 1.33 and a debt-to-equity ratio of 0.03.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.20. The firm had revenue of $389.28 million during the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Equities research 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 authorized a stock repurchase program on Tuesday, April 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Institutional Investors Weigh In On Slide Insurance
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank lifted its stake in Slide Insurance by 3,462.2% in the fourth quarter. Comerica Bank now owns 1,318 shares of the company's stock valued at $26,000 after buying an additional 1,281 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Slide Insurance by 8.4% in the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company's stock valued at $384,000 after buying an additional 1,641 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Slide Insurance by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,019 shares of the company's stock valued at $313,000 after buying an additional 1,704 shares during the last quarter. CWM LLC purchased a new stake in Slide Insurance in the fourth quarter valued at approximately $35,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Slide Insurance in the third quarter valued at approximately $35,000.
Analyst Ratings Changes
Several research firms recently weighed in on SLDE. Barclays boosted their target price on Slide Insurance from $29.00 to $31.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 29th. Weiss Ratings restated a "hold (c)" rating on shares of Slide Insurance in a research note on Wednesday. Wall Street Zen cut Slide Insurance from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Piper Sandler boosted their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, February 26th. Finally, Zacks Research cut Slide Insurance from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Slide Insurance currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.80.
View Our Latest Report on Slide Insurance
About Slide Insurance
(
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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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