Key Points
- Slide Insurance director Stephen Rohde sold 5,000 shares on May 11 at an average price of $19.00, totaling $95,000 and cutting his stake by 50% to 5,000 shares.
- The company recently beat earnings expectations, reporting Q1 EPS of $1.02 versus the $0.82 consensus, on revenue of $389.28 million.
- Slide Insurance authorized a $100 million share repurchase plan and has seen generally positive analyst sentiment, with a consensus rating of “Moderate Buy” and an average price target of $24.80.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Stephen Rohde sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $19.00, for a total transaction of $95,000.00. Following the sale, the director owned 5,000 shares in the company, valued at approximately $95,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Slide Insurance Stock Down 2.3%
Shares of NASDAQ:SLDE opened at $18.20 on Thursday. The stock's 50-day moving average price is $18.22 and its two-hundred day moving average price is $17.59. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.90. The firm has a market cap of $2.08 billion and a price-to-earnings ratio of 5.06.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.20. The company had revenue of $389.28 million for the quarter. Slide Insurance had a net margin of 38.86% and a return on equity of 48.38%. On average, research analysts forecast that Slide Insurance Holdings, Inc. will post 3.51 EPS for the current year.
Slide Insurance declared that its board has authorized a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
Several equities analysts have recently weighed in on SLDE shares. Wall Street Zen raised Slide Insurance from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Piper Sandler lifted their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Texas Capital upgraded shares of Slide Insurance to a "strong-buy" rating in a report on Wednesday, March 18th. Barclays lifted their target price on shares of Slide Insurance from $29.00 to $31.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Slide Insurance in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.80.
Check Out Our Latest Stock Report on Slide Insurance
Hedge Funds Weigh In On Slide Insurance
A number of institutional investors have recently added to or reduced their stakes in SLDE. Comerica Bank raised its position in shares of 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 purchasing an additional 1,281 shares in the last quarter. CWM LLC acquired a new position in shares of Slide Insurance in the 4th quarter valued at approximately $35,000. Ameritas Investment Partners Inc. acquired a new position in shares of Slide Insurance in the 3rd quarter valued at approximately $35,000. State of Wyoming acquired a new position in shares of Slide Insurance in the 1st quarter valued at approximately $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Slide Insurance in the 4th quarter valued at about $47,000.
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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