Slide Insurance (NASDAQ:SLDE) Director Sells 25,000 Shares of Company Stock

Key Points

  • Director Beth Bruce sold 25,000 shares for $681,500 at an average price of $27.26, reducing her stake by 13.92% to 154,645 shares.
  • Slide reported quarterly EPS of $1.09, beating the $0.65 consensus, though revenue of $361.05 million fell short of estimates. The company also announced a special dividend of $1.50 per share.
  • Analysts’ consensus rating is Moderate Buy, with an average price target of $28.33.

Slide Insurance Holdings, Inc. (NASDAQ:SLDE - Get Free Report) Director Beth Bruce sold 25,000 shares of the business's stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $27.26, for a total transaction of $681,500.00. Following the sale, the director owned 154,645 shares in the company, valued at $4,215,622.70. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Slide Insurance Stock Up 0.9%

Shares of SLDE opened at $26.18 on Tuesday. The stock has a market capitalization of $3.07 billion, a PE ratio of 6.20 and a beta of -0.19. Slide Insurance Holdings, Inc. has a 1 year low of $15.11 and a 1 year high of $29.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.23 and a current ratio of 1.27. The company's 50-day simple moving average is $25.43 and its 200-day simple moving average is $20.45.

Slide Insurance (NASDAQ:SLDE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.65 by $0.44. The business had revenue of $361.05 million during the quarter, compared to analyst estimates of $398.08 million. Slide Insurance had a net margin of 39.28% and a return on equity of 49.36%. Analysts forecast that Slide Insurance Holdings, Inc. will post 3.99 earnings per share for the current fiscal year.

Slide Insurance Announces Dividend




The firm also recently announced a special dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be issued a dividend of $1.50 per share. The ex-dividend date is Monday, November 23rd. Slide Insurance's dividend payout ratio is 6.36%.

Hedge Funds Weigh In On Slide Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Slide Insurance during the second quarter worth $98,538,000. Hsbc Holdings PLC purchased a new position in Slide Insurance in the second quarter valued at $1,077,000. Bank of America Corp DE purchased a new position in Slide Insurance in the second quarter valued at $10,954,000. Bank of New York Mellon Corp purchased a new position in Slide Insurance in the second quarter valued at $3,450,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in Slide Insurance by 24.9% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 459,820 shares of the company's stock valued at $8,277,000 after buying an additional 91,610 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SLDE shares. Keefe, Bruyette & Woods raised their price target on shares of Slide Insurance from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Zacks Research lowered Slide Insurance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Citizens Jmp upped their price objective on Slide Insurance from $28.00 to $33.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 28th. Morgan Stanley set a $22.00 price objective on Slide Insurance in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Slide Insurance from a "buy" rating to a "hold" rating in a report on Saturday, October 31st. One 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.33.

Check Out Our Latest Research Report on SLDE

Slide Insurance Company Profile

(Get Free Report)

Slide Insurance is a technology-enabled property and casualty insurance company focused on residential property coverage. Through its insurance operations, the company offers homeowners insurance and related coverage for personal residences.

Founded in 2021 by insurance executive Bruce Lucas, Slide built its business in the southeastern United States, including Florida. The company uses technology and data to support policy administration, underwriting and claims services.

Bruce Lucas serves as Slide's chairman and chief executive officer.

Further Reading

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