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 dated Tuesday, July 7th. The shares were sold at an average price of $21.04, for a total value of $593,580.48. Following the completion of the transaction, the director directly owned 1,749,145 shares of the company's stock, valued at approximately $36,802,010.80. This trade represents a 1.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Slide Insurance Stock Performance
Shares of NASDAQ SLDE opened at $20.47 on Thursday. Slide Insurance Holdings, Inc. has a 1 year low of $12.53 and a 1 year high of $21.79. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The company's fifty day moving average price is $18.29 and its 200 day moving average price is $18.02. The company has a market capitalization of $2.35 billion and a PE ratio of 5.69.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $1.02 earnings per share (EPS) 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 return on equity of 48.38% and a net margin of 38.86%. On average, research analysts predict that Slide Insurance Holdings, Inc. will post 3.59 earnings per share for the current year.
Slide Insurance declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on SLDE. Texas Capital raised shares of Slide Insurance to a "strong-buy" rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods upped their price objective on shares of Slide Insurance from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Wednesday. Morgan Stanley reaffirmed an "equal weight" rating and set a $20.00 price target (down from $23.00) on shares of Slide Insurance in a research report on Monday. Wall Street Zen upgraded Slide Insurance from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Barclays cut their price objective on Slide Insurance from $31.00 to $27.00 and set an "overweight" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Slide Insurance currently has a consensus rating of "Moderate Buy" and an average price target of $24.00.
View Our Latest Analysis on Slide Insurance
Institutional Investors Weigh In On Slide Insurance
A number of hedge funds have recently bought and sold shares of the stock. Comerica Bank increased its stake 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 worth $26,000 after buying an additional 1,281 shares during the period. CWM LLC purchased a new stake in Slide Insurance during the fourth quarter worth approximately $35,000. Ameritas Investment Partners Inc. acquired a new position in Slide Insurance in the third quarter valued at approximately $35,000. State of Wyoming purchased a new position in Slide Insurance in the first quarter valued at approximately $42,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Slide Insurance in the 4th quarter valued at $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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
