Key Points
- Insider sale: Matthew Paul Larson sold 2,500 shares of Slide Insurance on June 1 at an average price of $17.79, totaling $44,475. The transaction cut his direct ownership by 50% to 2,500 shares.
- Repeated selling: The sale was part of a broader pattern of insider disposals, with Larson also selling large blocks of SLDE shares several times since late March, including a 44,752-share sale on April 29.
- Company backdrop: Slide Insurance recently beat quarterly earnings expectations, launched a $100 million share buyback program, and analysts currently rate the stock a “Moderate Buy” with an average price target of $24.80.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Paul Larson sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $17.79, for a total value of $44,475.00. Following the transaction, the insider directly owned 2,500 shares in the company, valued at $44,475. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Matthew Paul Larson also recently made the following trade(s):
- On Tuesday, May 26th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.56, for a total value of $208,800.00.
- On Monday, May 18th, Matthew Paul Larson sold 16,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.01, for a total value of $308,912.50.
- On Monday, May 11th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.67, for a total value of $210,037.50.
- On Wednesday, April 29th, Matthew Paul Larson sold 44,752 shares of Slide Insurance stock. The shares were sold at an average price of $20.02, for a total value of $895,935.04.
- On Monday, April 27th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $18.77, for a total value of $211,162.50.
- On Monday, April 20th, Matthew Paul Larson sold 11,250 shares of Slide Insurance stock. The shares were sold at an average price of $19.39, for a total value of $218,137.50.
- On Thursday, April 16th, Matthew Paul Larson sold 8,750 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total value of $166,250.00.
- On Monday, April 13th, Matthew Paul Larson sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.00, for a total value of $180,000.00.
- On Monday, April 6th, 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 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.
Slide Insurance Stock Performance
Shares of NASDAQ:SLDE opened at $17.38 on Wednesday. The company's 50 day moving average price is $18.33 and its two-hundred day moving average price is $17.81. 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 $1.99 billion and a PE ratio of 4.83. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.82 by $0.20. The business had revenue of $389.28 million for the quarter. Slide Insurance had a return on equity of 48.38% and a net margin of 38.86%. Equities research analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.
Slide Insurance announced that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
SLDE has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Slide Insurance from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, March 9th. Barclays increased their target price on Slide Insurance from $29.00 to $31.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Zacks Research lowered Slide Insurance from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Piper Sandler increased their target price on Slide Insurance from $22.00 to $24.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. Finally, Wall Street Zen raised Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One equities research 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 MarketBeat, Slide Insurance has an average rating of "Moderate Buy" and an average price target of $24.80.
Read Our Latest Analysis on Slide Insurance
Institutional Trading of Slide Insurance
Large investors have recently bought and sold shares of the business. Comerica Bank boosted 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 in the last quarter. CWM LLC acquired a new stake in Slide Insurance in the fourth quarter valued at about $35,000. Ameritas Investment Partners Inc. acquired a new stake in Slide Insurance in the third quarter valued at about $35,000. State of Wyoming acquired a new stake in Slide Insurance in the first quarter valued at about $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Slide Insurance in the fourth 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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