Key Points
- Director Andrew Pardo Wright sold 15,000 shares of Slide Insurance on June 26 at an average price of $19.03, totaling about $285,450. After the sale, he still held 33,998 shares, a 30.61% reduction in his position.
- Wright has been actively trimming his stake, with multiple recent sales in June and May, including a larger sale of 31,002 shares on June 24. The repeated transactions highlight significant insider selling over the past several weeks.
- Slide Insurance reported strong quarterly results, beating earnings estimates with $1.02 per share versus $0.82 expected, and it also launched a $100 million share repurchase program. Analysts currently rate the stock a consensus Moderate Buy with a target price of $24.80.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Andrew Pardo Wright sold 15,000 shares of the company's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $19.03, for a total transaction of $285,450.00. Following the completion of the sale, the director owned 33,998 shares of the company's stock, valued at approximately $646,981.94. This trade represents a 30.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Andrew Pardo Wright also recently made the following trade(s):
- On Wednesday, June 24th, Andrew Pardo Wright sold 31,002 shares of Slide Insurance stock. The stock was sold at an average price of $18.01, for a total transaction of $558,346.02.
- On Monday, May 18th, Andrew Pardo Wright sold 10,086 shares of Slide Insurance stock. The shares were sold at an average price of $19.00, for a total transaction of $191,634.00.
- On Friday, May 15th, Andrew Pardo Wright sold 10,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total transaction of $187,500.00.
- On Thursday, May 7th, Andrew Pardo Wright sold 6,316 shares of Slide Insurance stock. The stock was sold at an average price of $18.90, for a total transaction of $119,372.40.
- On Friday, May 1st, Andrew Pardo Wright sold 15,000 shares of Slide Insurance stock. The shares were sold at an average price of $18.75, for a total value of $281,250.00.
Slide Insurance Price Performance
Slide Insurance stock opened at $19.09 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day simple moving average of $18.03 and a 200-day simple moving average of $17.88. Slide Insurance Holdings, Inc. has a 12 month low of $12.53 and a 12 month high of $22.15. The stock has a market capitalization of $2.19 billion and a PE ratio of 5.30.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last posted its quarterly earnings data 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 firm 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%. Equities analysts predict that Slide Insurance Holdings, Inc. will post 3.51 earnings per share for the current year.
Slide Insurance declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase 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 stock is undervalued.
Analyst Ratings Changes
A number of equities research analysts have commented on SLDE shares. Keefe, Bruyette & Woods raised their target price on Slide Insurance from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, March 9th. Wall Street Zen upgraded shares of Slide Insurance from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Barclays boosted their price objective on shares of 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 shares of Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Texas Capital upgraded shares of Slide Insurance to a "strong-buy" rating in a research report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.80.
Get Our Latest Stock Analysis on SLDE
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its stake 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 buying an additional 1,281 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Slide Insurance by 8.4% in the first quarter. Hsbc Holdings PLC now owns 21,251 shares of the company's stock worth $384,000 after acquiring an additional 1,641 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 worth $313,000 after acquiring an additional 1,704 shares during the last quarter. CWM LLC purchased a new stake in shares of Slide Insurance in the fourth quarter valued at $35,000. Finally, California State Teachers Retirement System boosted its stake in shares of Slide Insurance by 9.5% during the first quarter. California State Teachers Retirement System now owns 25,318 shares of the company's stock valued at $456,000 after acquiring an additional 2,189 shares during the last quarter.
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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