Key Points
- Insider selling: Matthew Paul Larson sold 11,150 Slide Insurance shares at an average price of $27.55, generating $307,182.50 and reducing his direct stake by 50%. He has also made three other sales since September.
- Stock performance and fundamentals: SLDE opened at $28.55, near its 52-week high of $28.69, with a $3.33 billion market capitalization and a price-to-earnings ratio of 6.96. The company recently beat quarterly EPS expectations, reporting $1.06 versus the $0.88 consensus estimate.
- Investor outlook: Slide pays a quarterly dividend of $0.07 per share, while institutional investors have recently added to their positions. Analysts maintain a “Moderate Buy” consensus, with an average price target of $25.60.
Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) insider Matthew Larson sold 11,150 shares of the company's stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $27.55, for a total transaction of $307,182.50. Following the sale, the insider directly owned 11,150 shares of the company's stock, valued at $307,182.50. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Matthew Paul Larson also recently made the following trade(s):
- On Tuesday, October 20th, Matthew Larson sold 2,600 shares of Slide Insurance stock. The shares were sold at an average price of $27.53, for a total transaction of $71,578.00.
- On Monday, September 14th, Matthew Larson sold 11,374 shares of Slide Insurance stock. The shares were sold at an average price of $26.00, for a total transaction of $295,724.00.
- On Thursday, September 3rd, Matthew Larson sold 11,374 shares of Slide Insurance stock. The stock was sold at an average price of $24.62, for a total transaction of $280,027.88.
Slide Insurance Stock Up 2.9%
SLDE opened at $28.55 on Friday. The firm's 50 day simple moving average is $24.48 and its two-hundred day simple moving average is $20.94. The company has a market capitalization of $3.33 billion, a PE ratio of 6.96 and a beta of 0.13. Slide Insurance Holdings, Inc. has a 1-year low of $15.11 and a 1-year high of $28.69. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02.
Slide Insurance (NASDAQ:SLDE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.18. The firm had revenue of $386.82 million during the quarter. Slide Insurance had a net margin of 40.02% and a return on equity of 50.69%. As a group, equities analysts forecast that Slide Insurance Holdings, Inc. will post 3.84 EPS for the current year.
Slide Insurance Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 14th. This represents a $0.28 annualized dividend and a yield of 1.0%. Slide Insurance's payout ratio is 6.83%.
Hedge Funds Weigh In On Slide Insurance
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Slide Insurance by 83.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,353 shares of the company's stock worth $253,000 after acquiring an additional 5,153 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Slide Insurance in the third quarter valued at $3,003,000. State of Alaska Department of Revenue grew its holdings in shares of Slide Insurance by 15.1% in the third quarter. State of Alaska Department of Revenue now owns 33,109 shares of the company's stock valued at $737,000 after purchasing an additional 4,340 shares in the last quarter. WINTON GROUP Ltd increased its position in Slide Insurance by 153.5% in the second quarter. WINTON GROUP Ltd now owns 28,500 shares of the company's stock worth $552,000 after purchasing an additional 17,256 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Slide Insurance in the second quarter worth $688,000.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Slide Insurance from a "hold" rating to a "buy" rating in a research note on Saturday, September 19th. Citizens Jmp lifted their price target on shares of Slide Insurance from $27.00 to $28.00 and gave the company a "market outperform" rating in a report on Monday, October 12th. Weiss Ratings upgraded shares of Slide Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Slide Insurance from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. One investment 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 company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.60.
Check Out Our Latest Research Report on Slide Insurance
Slide Insurance Company Profile
(
Get Free Report)
Slide Insurance Holdings, Inc is a technology-enabled property and casualty insurance company focused primarily on residential homeowners insurance. Through its digital platform, the company uses data, automation and analytics to support the quoting, underwriting, policy administration and claims processes.
Slide offers homeowners coverage designed to protect residential properties and personal belongings against covered risks, along with related liability protection and optional coverage features.
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